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Pricing

2022
Flag → Flag
Exports $12MRnk 167 / 220
2022
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Top Product $4.25MRefined Petroleum
2022
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Exports $351kRnk 8 / 52
2022
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Top Product $196kScrap Iron
2022
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Economic Complexity (ECI) ECI 1.71Rnk 4 / 124
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$427MCURRENT US$
Rnk 182 / 186
2012-2022
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GDP GROWTH30.5%CURRENT US$
Rnk 99 / 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$3,741CURRENT US$
Rnk 126 / 186
2012-2022
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GDP PC GROWTH23.7%CURRENT US$
Rnk 74 / 186

About

South Korea-Micronesia In 2022, South Korea exported $12M to Micronesia. The main products that South Korea exported to Micronesia are Refined Petroleum ($4.25M), Petroleum Gas ($1.84M), and Raw Iron Bars ($1.69M). During the last 27 years the exports of South Korea to Micronesia have increased at an annualized rate of 3.02%, from $5.39M in 1995 to $12M in 2022.

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

Micronesia-South Korea 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). During the last 27 years the exports of Micronesia to South Korea have increased at an annualized rate of 0.87%, from $278k in 1995 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 1.71),  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

February, 2024

About

Overview In February 2024, South Korea exported $591k and imported $0 from Micronesia, resulting in a positive trade balance of $591k. Between February 2023 and February 2024 the exports of South Korea have decreased by $-6.75M (-92%) from $7.34M to $591k, while imports remained the same by $0 (N/A%) from $0 to $0.

Trade In February 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 February 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 February 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 February 2024, the change in South Korea's year-by-year imports  from Micronesia was explained primarily by an decrease in product imports  in .

Latest Trade

Flow
Time Scale
Depth
Value
EXPORT GROWTH (February 2023 - February 2024)$-6.75M(-92%)
IMPORT GROWTH (February 2023 - February 2024)$0(N/A%)

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.

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Historical Data

Bilateral Trade by Products

Depth
Value

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 27 years the exports of South Korea to Micronesia have increased at an annualized rate of 3.02%, from $5.39M in 1995 to $12M in 2022.

In 2022, 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 27 years the exports of Micronesia to South Korea have increased at an annualized rate of 0.87%, from $278k in 1995 to $351k in 2022.

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

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

Market Competitiveness

Color
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 2021, countries that imported more from South Korea than Micronesia were China ($150B), United States ($112B), and Vietnam ($60.7B).

In 2019, no countries were registered that imported more from Micronesia than from South Korea.

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

Comparative Advantage South Korea - Micronesia

Flow
Scale

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 2022, 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

This visualization show the product space at the HS4 level colored from blue to yellow.  This mean that the more blue a dot/product is, the more South Korea has comparative advantage over Micronesia. Similarly, the more yellow a dot/product is, the more Micronesia has comparative advantage over South Korea.

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

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