2022
Flag  
GDP
$13.6BCURRENT US$
Rnk 135 / 186
2012-2022
Flag
GDP GROWTH
39.2%CURRENT US$
Rnk 84 / 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 
$6,591CURRENT US$
Rnk 100 / 186
2012-2022
Flag
GDP PC GROWTH
39.4%CURRENT US$
Rnk 50 / 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

North Macedonia-South Korea Trade: In 2022, North Macedonia exported $5.48M to South Korea. The main products that North Macedonia exported to South Korea were Machinery Having Individual Functions ($1.78M), Raw Tobacco ($1.24M), and Other Heating Machinery ($476k). Over the past 5 years the exports of North Macedonia to South Korea have increased at an annualized rate of 16.3%, from $2.57M in 2017 to $5.48M in 2022.

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

South Korea-North Macedonia Trade: In 2022, South Korea exported $46.3M to North Macedonia. The main products that South Korea exported to North Macedonia were Aluminium Bars ($9.75M), Cars ($3.88M), and Plastic Coated Textile Fabric ($3.85M). Over the past 5 years the exports of South Korea to North Macedonia have increased at an annualized rate of 5.25%,  from $35.9M in 2017 to $46.3M in 2022.

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

Comparison: In 2022,  North Macedonia ranked 52 in the Economic Complexity Index (ECI 0.25), and 105 in total exports ($9.52B). 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, North Macedonia exported $5.48M to South Korea. The main products exported from North Macedonia to South Korea were Machinery Having Individual Functions ($1.78M), Raw Tobacco ($1.24M), and Other Heating Machinery ($476k). During the last 5 years the exports of North Macedonia to South Korea have increased at an annualized rate of 16.3%, from $2.57M in 2017 to $5.48M in 2022.

In 2017, South Korea exported $46.3M to North Macedonia. The main products exported from South Korea to North Macedonia were Aluminium Bars ($9.75M), Cars ($3.88M), and Plastic Coated Textile Fabric ($3.85M). During the last 5 years the exports of South Korea to North Macedonia have increased at an annualized rate of 5.25%, from $35.9M in 2022 to $46.3M in 2017.

Exports from North Macedonia (Flag) to South Korea (Flag) (2022)

Exports from South Korea (Flag) to North Macedonia (Flag) (2022)

Latest Data

Trade between North Macedonia (Flag) and South Korea (Flag)

North Macedonia Exports

South Korea Exports

Market Competitiveness

Color
North Macedonia
Top Destination
Germany$3.96B
South Korea
Top Destination
China$150B

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 2022, countries that imported more from North Macedonia than South Korea included Serbia ($800M), Bulgaria ($443M), and Albania ($115M).

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

Difference in imports from South Korea (Flag) and North Macedonia (Flag) (2022)

Comparative Advantage North Macedonia - South Korea

Flow
Scale

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

During 2022, North Macedonia had a large net trade with South Korea in the exports of Machines ($2.9M), Foodstuffs ($1.54M), and Textiles ($461k).

During 2017, South Korea had a large net trade with North Macedonia in the exports of Machines ($13.5M), Metals ($11M), and Textiles ($7.38M).

Potential Exports

Potential Exports

Depth
View
Sort By
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

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.

Product Space of North Macedonia (Flag) and South Korea (Flag) (2022)

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