2022
Flag  
GDP
$6.1BCURRENT US$
Rnk 151 / 186
2012-2022
Flag
GDP GROWTH
49.1%CURRENT US$
Rnk 65 / 186
2022
Flag
 GDP
$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
Flag
GDP GROWTH
30.3%CURRENT US$
Rnk 100 / 186
2022
Flag
GDP PC 
$9,894CURRENT US$
Rnk 79 / 186
2012-2022
Flag
GDP PC GROWTH
50.2%CURRENT US$
Rnk 35 / 186
2022
Flag
GDP PC
$32,255CURRENT US$
Rnk 33 / 186
2012-2022
Flag
GDP PC GROWTH
26.7%CURRENT US$
Rnk 70 / 186

About

Montenegro-South Korea Trade: In 2022, Montenegro exported $321M to South Korea. The main products that Montenegro exported to South Korea were Copper Ore ($307M), Lead Ore ($11.1M), and Zinc Ore ($1.99M). Over the past 5 years the exports of Montenegro to South Korea have increased at an annualized rate of 251%, from $599k in 2017 to $321M in 2022.

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

South Korea-Montenegro Trade: In 2022, South Korea exported $36.7M to Montenegro. The main products that South Korea exported to Montenegro were Raw Aluminium ($22.5M), Large Construction Vehicles ($3.79M), and Cars ($2.86M). Over the past 5 years the exports of South Korea to Montenegro have increased at an annualized rate of 30.4%,  from $9.73M in 2017 to $36.7M in 2022.

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

Comparison In 2022,  Montenegro ranked 154 in total exports ($1.32B), and does not have data regarding Economic Complexity Index. That same year, South Korea ranked 4 in the Economic Complexity Index (ECI 1.78), and 5 in total exports ($705B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Montenegro exported $321M to South Korea. The main products exported from Montenegro to South Korea were Copper Ore ($307M), Lead Ore ($11.1M), and Zinc Ore ($1.99M). During the last 5 years the exports of Montenegro to South Korea have increased at an annualized rate of 251%, from $599k in 2017 to $321M in 2022.

In 2017, South Korea exported $36.7M to Montenegro. The main products exported from South Korea to Montenegro were Raw Aluminium ($22.5M), Large Construction Vehicles ($3.79M), and Cars ($2.86M). During the last 5 years the exports of South Korea to Montenegro have increased at an annualized rate of 30.4%, from $9.73M in 2022 to $36.7M in 2017.

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

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

Latest Data

Trade between Montenegro (Flag) and South Korea (Flag)

Montenegro Exports

South Korea Exports

Market Competitiveness

Color
Montenegro
Top Destination
South Korea$321M
South Korea
Top Destination
China$150B

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

In 2022, countries that imported more from Montenegro than South Korea included Bosnia and Herzegovina ($95.5M) and San Marino ($2.1M).

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

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

Comparative Advantage Montenegro - South Korea

Flow
Scale

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

During 2022, Montenegro had a large net trade with South Korea in the exports of Mineral Products ($320M), Chemical Products ($617k), and Machines ($94.3k).

During 2017, South Korea had a large net trade with Montenegro in the exports of Metals ($22.6M), Machines ($7.26M), and Transportation ($3.1M).

Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Montenegro and South Korea. This means that a dot/product with the flag of Montenegro 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 Montenegro.

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

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