South Korea: Trade balance, percent of GDP
(measure: percent; Source: The World Bank)
* indicates monthly or quarterly data series
South Korea: Trade balance as percent of GDP
: For that indicator, we provide data for South Korea from 1960 to 2019. The average value for South Korea during that period was -1.7 percent with a minimum of -12.49 percent in 1968 and a maximum of 10.58 percent in 1998. The latest value from 2019 is 2.94 percent. For comparison, the world average in 2019 based on 143 countries is -3.74 percent. See the global rankings for that indicator or use the country comparator to compare trends over time.
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The trade balance for South Korea and other countries is calculated as the difference between the exports and imports of goods and services, as percent of GDP. A positive number means trade surplus and a negative number means trade deficit.
Definition: External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services).
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