2022
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GDP
$427MCURRENT US$
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2012-2022
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GDP GROWTH
30.5%CURRENT US$
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2022
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 GDP
$1.67TCURRENT US$
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2012-2022
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GDP GROWTH
30.3%CURRENT US$
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2022
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GDP PC 
$3,741CURRENT US$
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2012-2022
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GDP PC GROWTH
23.7%CURRENT US$
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2022
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GDP PC
$32,255CURRENT US$
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2012-2022
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GDP PC GROWTH
26.7%CURRENT US$
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About

Micronesia-South Korea In 2022, Micronesia exported $351k to South Korea. The main products that Micronesia exported to South Korea are 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.

South Korea-Micronesia 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). 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.

Comparison In 2022,  Micronesia ranked 191 in total exports ($183M), 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, 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.

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.

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

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

Latest Data

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

South Korea Exports

Market Competitiveness

Color
Micronesia
Top Destination
Thailand$143M
South Korea
Top Destination
China$150B

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

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

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

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

Comparative Advantage Micronesia - South Korea

Flow
Scale

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

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).

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).

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 Micronesia has comparative advantage over South Korea. Similarly, the more yellow a dot/product is, the more South Korea has comparative advantage over Micronesia.

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

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