Micronesia (FSM) and South Korea (KOR) Trade | The Observatory of Economic Complexity

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Micronesia-South Korea Trade: 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). Over the past 5 years the exports of Micronesia to South Korea have decreased at an annualized rate of 19.7%, from $1.05M in 2017 to $351k in 2022.

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

South Korea-Micronesia Trade: 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). Over the past 5 years the exports of South Korea to Micronesia have decreased at an annualized rate of 25.1%, from $51M in 2017 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

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

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 5 years the exports of Micronesia to South Korea have decreased at an annualized rate of 19.7%, from $1.05M in 2017 to $351k in 2022.

In 2017, 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 5 years the exports of South Korea to Micronesia have decreased at an annualized rate of 25.1%, from $51M in 2022 to $12M in 2017.

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

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

Latest Data

Trade between Micronesia () and South Korea ()

South Korea Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Micronesia
Top DestinationThailand$143M

South Korea
Top DestinationChina$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 2022, no countries were registered that imported more from Micronesia than from South Korea.

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

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

Comparative Advantage Micronesia - South Korea

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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 2017, South Korea had a large net trade with Micronesia in the exports of Mineral Products ($7.05M), Metals ($2.08M), and Foodstuffs ($1.36M).

Potential Exports

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Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

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

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

Latest Data

Trade between Micronesia () and South Korea ()

South Korea Exports

Market Competitiveness

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

Comparative Advantage Micronesia - South Korea

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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