South Korea (KOR) and Micronesia (FSM) Trade | The Observatory of Economic Complexity

- Chat OEC
  New
- Company Explorer
  PREMIUM
- Trend Explorer
  PRO
- - Tree map
  - Stacked
  - Network
  - Map
  - Scatter
- Data Availability
- - API Documentation
    PRO
  - Notebooks
  - Data Explorer
    PRO
- - Bill of Lading
    PREMIUM
  - National Datasets
    PREMIUM
  - Product Datasets
  - International Datasets
- - ECI Countries (2022)
  - PCI Products (2022)
  - ECI, PCI (1964-2017)
- - Pick 5
  - Connectrade
  - Tradle
  - Trivia
- - Store

Pricing

South Korea (KOR) and Micronesia (FSM) Trade

2022

→

Exports $12MRnk 167 / 220

2022

→

About

South Korea-Micronesia Trade: In 2022, South Korea exported $12M to Micronesia. The main products that South Korea exported to Micronesia were Refined Petroleum ($4.25M), Petroleum Gas ($1.84M), and Raw Iron Bars ($1.69M). Over the past 5 years the exports of South Korea to Micronesia have decreased at an annualized rate of 25.1%, from $51M in 2017 to $12M in 2022.

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

Micronesia-South Korea Trade: In 2022, Micronesia exported $351k to South Korea. The main products that Micronesia exported to South Korea were Scrap Iron ($196k), Scrap Aluminium ($110k), and Industrial Fatty Acids, Oils and Alcohols ($19.3k). Over the past 5 years the exports of Micronesia to South Korea have decreased at an annualized rate of 10.4%, from $1.05M in 2017 to $351k in 2022.

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

Comparison In 2022, South Korea ranked 4 in the Economic Complexity Index (ECI 1.78), and 5 in total exports ($705B). That same year, Micronesia ranked 191 in total exports ($183M), and does not have data regarding Economic Complexity Index.

Latest Trends

October, 2024

About

Overview In October 2024, South Korea exported $438k and imported $1k from Micronesia, resulting in a positive trade balance of $437k. Between October 2023 and October 2024 the exports of South Korea have decreased by $-7.49M (-94.5%) from $7.93M to $438k, while imports decreased by $-35k (-97.2%) from $36k to $1k.

Trade In October 2024, the top exports of South Korea to Micronesia were Wadding, felt, nonwovens, twin, ropes, &... ($750k), Mineral fuels, mineral oils and products... ($115k), Iron & steel ($96k), Optical, photo, & film equipment; medical... ($15k), and Preparations of cereals, flour, starch or... ($13k). In October 2024 the top imports of South Korea from Micronesia were Sugars & confectioneries ($0), Preparations of cereals, flour, starch or... ($0), Preparations of vegetables, fruit, nuts or... ($0), Miscellaneous edible preparations ($0), and Beverages, spirits, & vinegar ($0).

Growth In October 2024, the decrease in South Korea's year-by-year exports to Micronesia was explained primarily by an decrease in product exports in Iron & steel ($-194k or -66.9%), Mineral fuels, mineral oils and products... ($-176k or -60.5%), and Preparations of cereals, flour, starch or... ($-128k or -90.8%). In October 2024, the decrease in South Korea's year-by-year imports from Micronesia was explained primarily by an decrease in product imports in .

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (October 2023 - October 2024)$-7.49M(-94.5%)

IMPORT GROWTH (October 2023 - October 2024)$-35k(-97.2%)

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 Micronesia and South Korea trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Micronesia and South Korea Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, South Korea exported $12M to Micronesia. The main products exported from South Korea to Micronesia were Refined Petroleum ($4.25M), Petroleum Gas ($1.84M), and Raw Iron Bars ($1.69M). During the last 5 years the exports of South Korea to Micronesia have decreased at an annualized rate of 25.1%, from $51M in 2017 to $12M in 2022.

In 2017, Micronesia exported $351k to South Korea. The main products exported from Micronesia to South Korea were Scrap Iron ($196k), Scrap Aluminium ($110k), and Industrial Fatty Acids, Oils and Alcohols ($19.3k). During the last 5 years the exports of Micronesia to South Korea have decreased at an annualized rate of 10.4%, from $1.05M in 2022 to $351k in 2017.

Exports from South Korea () to Micronesia () (2022)

Exports from Micronesia () to South Korea () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

South Korea
Top DestinationChina$150B

Micronesia
Top DestinationThailand$143M

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

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

In 2022, no countries were registered that imported more from Micronesia than from South Korea.

Difference in imports from Micronesia () and South Korea () (2022)

Comparative Advantage South Korea - Micronesia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, South Korea had a large net trade with Micronesia in the exports of Mineral Products ($7.05M), Metals ($2.08M), and Foodstuffs ($1.36M).

During 2017, Micronesia had a large net trade with South Korea in the exports of Metals ($305k), Chemical Products ($19.3k), and Textiles ($18.2k).

Economic Complexity

Competitive Landscape

Year

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

Product Space of South Korea () and Micronesia () (2022)

Keep Exploring

South Korea
Fiji
South Korea
Guam
Cambodia
Micronesia
Kuwait
Micronesia

Have questions, comments, or concerns?
Send us an e-mail: support@oec.world

Follow @OECtoday on

Created, Designed, and Developed by:

In collaboration with

About the OEC Privacy Policy Terms