South Korea: Exports, percent of GDP

* indicates monthly or quarterly data series
 South Korea

Exports of goods and services as percent of GDP

 Latest value 48.27
 Year 2022
 Measure percent
 Data availability 1960 - 2022
 Average 28.45
 Min - Max 2.64 - 54.09
 Source The World Bank
For that indicator, we provide data for South Korea from 1960 to 2022. The average value for South Korea during that period was 28.45 percent with a minimum of 2.64 percent in 1960 and a maximum of 54.09 percent in 2012. The latest value from 2022 is 48.27 percent. For comparison, the world average in 2022 based on 149 countries is 47.96 percent. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series


Recent values chart
South Korea - Exports, percent of GDP - Recent values chart

Historical chart
South Korea - Exports, percent of GDP - historical chart - 1960-2022




The exports of South Korea and other countries are calculated as the total amount of goods and services produced at home and sold abroad. Exports are often reported as percent of GDP so that we can evaluate their magnitude relative to the size of the economy.

If exports are about 15 percent or less of GDP the economy is considered relatively closed as only 15 percent of its products are sold internationally. That, for example, applies to the U.S. In contrast, many small European countries export over 40 percent of their production. They are considered more open to international trade.
Definition: Exports of goods and services represent the value of all goods and other market services provided to the rest of the world. They include the value of merchandise, freight, insurance, transport, travel, royalties, license fees, and other services, such as communication, construction, financial, information, business, personal, and government services. They exclude compensation of employees and investment income (formerly called factor services) and transfer payments.

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 Related indicators Latest value Reference Measure
 Terms of trade 92.30 2021 percent
 Trade openness 96.54 2022 percent
 Financial openness 2.299 2021 index points
 Exports, percent of GDP 48.27 2022 percent
 Exports, billion dollars 753.55 2023 billion U.S. dollars
 Growth of exports 3.43 2022 percent
 Imports, percent of GDP 48.26 2022 percent
 Imports, billion dollars 752.67 2023 billion U.S. dollars
 Foreign Direct Investment, percent of GDP 1.08 2022 percent
 Foreign Direct Investment, billion dollars 25.04 2022 billion U.S. dollars
 Portfolio investment inflows, equities 11,622.50 2023 million dollars (current)
 Current account, percent of GDP 3.50 2022 percent
 Current account, in dollars 35.49 2023 billion U.S. dollars
 Trade balance, percent of GDP 0.01 2022 percent
 Trade balance, in dollars 8.43 2023 billion U.S. dollars
 Reserves 423.37 2022 billion U.S. dollars
 Remittances, percent of GDP 0.47 2022 percent
 Remittances 7,824.50 2022 million U.S. dollars
 Net errors and omissions -3,137.60 2023 million USD
 Foreign exchange reserves 414.10 9/2023 billion
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