North Macedonia (MKD) and South Korea (KOR) Trade | The Observatory of Economic Complexity

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North Macedonia-South Korea Trade: In 2023, North Macedonia exported $6.23M to South Korea. The main products that North Macedonia exported to South Korea were Raw Tobacco ($5.87M), Electric Motors ($148k), and Special purpose motor vehicles ($84.2k). Over the past 5 years the exports of North Macedonia to South Korea have increased at an annualized rate of 5.71%, from $4.72M in 2018 to $6.23M in 2023.

In 2023, North Macedonia did not export any services to South Korea.

South Korea-North Macedonia Trade: In 2023, South Korea exported $66.5M to North Macedonia. The main products that South Korea exported to North Macedonia were Semi-Finished Iron ($16.4M), Aluminium Bars ($8.19M), and Plastic Coated Textile Fabric ($5.57M). Over the past 5 years the exports of South Korea to North Macedonia have increased at an annualized rate of 15.9%, from $31.8M in 2018 to $66.5M in 2023.

In 2023, South Korea did not export any services to North Macedonia.

Comparison In 2023, North Macedonia ranked 104 in total exports ($10.1B), and does not have data regarding Economic Complexity Index. That same year, South Korea ranked 4 in the Economic Complexity Index (ECI 1.85), and 5 in total exports ($645B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, North Macedonia exported $6.23M to South Korea. The main products exported from North Macedonia to South Korea were Raw Tobacco ($5.87M), Electric Motors ($148k), and Special purpose motor vehicles ($84.2k). During the last 5 years the exports of North Macedonia to South Korea have increased at an annualized rate of 5.71%, from $4.72M in 2018 to $6.23M in 2023.

In 2018, South Korea exported $66.5M to North Macedonia. The main products exported from South Korea to North Macedonia were Semi-Finished Iron ($16.4M), Aluminium Bars ($8.19M), and Plastic Coated Textile Fabric ($5.57M). During the last 5 years the exports of South Korea to North Macedonia have increased at an annualized rate of 15.9%, from $31.8M in 2023 to $66.5M in 2018.

Exports from North Macedonia () to South Korea () (2023)

Exports from South Korea () to North Macedonia () (2023)

Latest Data

Trade between North Macedonia () and South Korea ()

North Macedonia Exports

Date

South Korea Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

North Macedonia
Top DestinationGermany$4B

South Korea
Top DestinationChina$162B

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

In 2023, countries that imported more from North Macedonia than South Korea included Serbia ($827M), Bulgaria ($566M), and Croatia ($140M).

In 2023, countries that imported more from South Korea than North Macedonia included China ($162B), United States ($118B), and Hong Kong ($28.8B).

Difference in imports from South Korea () and North Macedonia () (2023)

Comparative Advantage North Macedonia - South Korea

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, North Macedonia had a large net trade with South Korea in the exports of Foodstuffs ($5.91M), Machines ($183k), and Transportation ($84.3k).

During 2018, South Korea had a large net trade with North Macedonia in the exports of Metals ($25.8M), Machines ($13.3M), and Textiles ($8.79M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential North Macedonia South Korea+$959kMachinery Having Individual Functions

Top Product Potential South Korea North Macedonia+$5.07MCars

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

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from North Macedonia () to South Korea () (2023)

Exports from South Korea () to North Macedonia () (2023)

Latest Data

Trade between North Macedonia () and South Korea ()

North Macedonia Exports

South Korea Exports

Market Competitiveness

Difference in imports from South Korea () and North Macedonia () (2023)

Comparative Advantage North Macedonia - South Korea

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of North Macedonia () and South Korea () (2023)

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