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2022
Flag → Flag
Exports $37.7MRnk 139 / 220
2022
Flag → Flag
Top Product $12.1MCars
2022
Flag → Flag
Exports $43.4MRnk 19 / 129
2022
Flag → Flag
Top Product $31MRefined Petroleum
2022
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Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
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Economic Complexity (ECI) ECI -0.24Rnk 77 / 133
2022
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GDP$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
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GDP GROWTH30.3%CURRENT US$
Rnk 100 / 186
2022
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 GDP$18.9BCURRENT US$
Rnk 120 / 186
2012-2022
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GDP GROWTH53.3%CURRENT US$
Rnk 55 / 186
2022
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GDP PC $32,255CURRENT US$
Rnk 33 / 186
2012-2022
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GDP PC GROWTH26.7%CURRENT US$
Rnk 70 / 186
2022
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GDP PC$6,803CURRENT US$
Rnk 94 / 186
2012-2022
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GDP PC GROWTH60.2%CURRENT US$
Rnk 27 / 186

About

South Korea-Albania Trade: In 2022, South Korea exported $37.7M to Albania. The main products that South Korea exported to Albania were Cars ($12.1M), Orthopedic Appliances ($4.56M), and Electrical Power Accessories ($4.38M). Over the past 5 years the exports of South Korea to Albania have increased at an annualized rate of 24.9%, from $12.4M in 2017 to $37.7M in 2022.

In 2022, South Korea did not export any services to Albania.

Albania-South Korea Trade: In 2022, Albania exported $43.4M to South Korea. The main products that Albania exported to South Korea were Refined Petroleum ($31M), Zinc Ore ($3.36M), and Leather Footwear ($2.53M). Over the past 5 years the exports of Albania to South Korea have increased at an annualized rate of 58.3%,  from $4.37M in 2017 to $43.4M in 2022.

In 2017, Albania exported services to South Korea worth $1.92M, with Travel ($1.92M) being the largest in terms of value.

Comparison: In 2022,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.78), and 5 in total exports ($705B). That same year, Albania ranked 77 in the Economic Complexity Index (ECI -0.24), and 131 in total exports ($4.3B).

Latest Trends

July, 2024

About

Overview In July 2024, South Korea exported $16.3M and imported $758k from Albania, resulting in a positive trade balance of $15.5M. Between July 2023 and July 2024 the exports of South Korea have increased by $4.19M (34.8%) from $12.1M to $16.3M, while imports decreased by $-3k (-0.39%) from $761k to $758k.

Trade In July 2024, the top exports of South Korea to Albania were Cars, tractors, trucks & parts thereof. ($3.27M), Electrical machinery and electronics ($899k), Plastics & articles thereof ($341k), Optical, photo, & film equipment; medical... ($325k), and Paper articles ($198k). In July 2024 the top imports of South Korea from Albania were Footwear ($472k), Non-knitted clothing accesories ($259k), Electrical machinery and electronics ($116k), Knitted clothing accesories ($85k), and Fish, crustaceans, & molluscs ($48k).

Growth In July 2024, the increase in South Korea's year-by-year exports to Albania was explained primarily by an increase in product exports in Cars, tractors, trucks & parts thereof. ($2.86M or 690%), Electrical machinery and electronics ($470k or 110%), and Plastics & articles thereof ($200k or 142%). In July 2024, the decrease in South Korea's year-by-year imports  from Albania was explained primarily by an decrease in product imports  in Knitted clothing accesories ($-196k or -69.8%), Paper articles ($-27k or -84.4%), and Oils seeds, oleaginous fruits, grains, straw... ($-5k or -100%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (July 2023 - July 2024)$4.19M(34.8%)
IMPORT GROWTH (July 2023 - July 2024)$-3k(-0.39%)

This section shows exports and imports data at subnational level for South Korea. Click any date in the line plot or any product to explore the exports or imports behavior of South Korea over time.

To check Albania and South Korea trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Albania and South Korea Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $37.7M to Albania. The main products exported from South Korea to Albania were Cars ($12.1M), Orthopedic Appliances ($4.56M), and Electrical Power Accessories ($4.38M). During the last 5 years the exports of South Korea to Albania have increased at an annualized rate of 24.9%, from $12.4M in 2017 to $37.7M in 2022.

In 2017, Albania exported $43.4M to South Korea. The main products exported from Albania to South Korea were Refined Petroleum ($31M), Zinc Ore ($3.36M), and Leather Footwear ($2.53M). During the last 5 years the exports of Albania to South Korea have increased at an annualized rate of 58.3%, from $4.37M in 2022 to $43.4M in 2017.

Exports from South Korea (Flag) to Albania (Flag) (2022)

Exports from Albania (Flag) to South Korea (Flag) (2022)

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
Albania
Top DestinationItaly$1.75B

This map shows whether countries import more from South Korea or Albania. Each country is colored based on the difference in imports they receive from South Korea and Albania or the difference in the growth in imports.

In 2022, countries that imported more from South Korea than Albania included China ($150B), United States ($112B), and Vietnam ($60.7B).

In 2022, countries that imported more from Albania than South Korea included North Macedonia ($101M) and Montenegro ($80.8M).

Difference in imports from Albania (Flag) and South Korea (Flag) (2022)

Comparative Advantage South Korea - Albania

Flow
Scale

This chart compares trade between South Korea and Albania by product, considering products traded by both, South Korea and Albania.

During 2022, South Korea had a large net trade with Albania in the exports of Transportation ($12.1M), Machines ($8.75M), and Instruments ($5.86M).

During 2017, Albania had a large net trade with South Korea in the exports of Mineral Products ($34.3M), Textiles ($4.2M), and Footwear and Headwear ($2.88M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Albania+$8.7MCars
Top Product Potential Albania South Korea+$2.65MLeather Footwear

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of South Korea and Albania. This means that a dot/product with the flag of South Korea indicates it has a comparative advantage over Albania. Similarly, a dot/product with the flag of Albania indicates it has a comparative advantage over South Korea.

Product Space of South Korea (Flag) and Albania (Flag) (2022)

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