South Korea: Net errors and omissions

* indicates monthly or quarterly data series
 South Korea

Balance of payments, net errors and omissions

 Latest value 9,001.20
 Year 2022
 Measure million USD
 Data availability 1976 - 2022
 Average 713.87
 Min - Max -8,274.20 - 9,940.30
 Source The World Bank
For that indicator, we provide data for South Korea from 1976 to 2022. The average value for South Korea during that period was 713.87 million USD with a minimum of -8274.2 million USD in 2008 and a maximum of 9940.3 million USD in 2006. The latest value from 2022 is 9001.2 million USD. For comparison, the world average in 2022 based on 153 countries is -72.08 million USD. 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 - Net errors and omissions - Recent values chart

Historical chart
South Korea - Net errors and omissions - historical chart - 1976-2022




Definition: Net errors and omissions constitute a residual category needed to ensure that accounts in the balance of payments statement sum to zero. Net errors and omissions are derived as the balance on the financial account minus the balances on the current and capital accounts. Data are in current U.S. dollars.

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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 808.03 2022 billion U.S. dollars
 Growth of exports 3.43 2022 percent
 Imports, percent of GDP 48.26 2022 percent
 Imports, billion dollars 807.91 2022 billion U.S. dollars
 Foreign Direct Investment, percent of GDP 1.08 2022 percent
 Foreign Direct Investment, billion dollars 18.00 2022 billion U.S. dollars
 Portfolio investment inflows, equities -4,750.70 2022 million dollars (current)
 Current account, percent of GDP 3.50 2022 percent
 Current account, in dollars 29.83 2022 billion U.S. dollars
 Trade balance, percent of GDP 0.01 2022 percent
 Trade balance, in dollars 9.51 2022 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 9,001.20 2022 million USD
 Foreign exchange reserves 414.10 9/2023 billion
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