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.
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).