South Korea: Trade openness
* indicates monthly or quarterly data series
| South Korea |
Trade openness: exports plus imports as percent of GDP |
|---|---|
| Latest value | 84.64 |
| Year | 2024 |
| Measure | percent |
| Data availability | 1960 - 2024 |
| Average | 57.42 |
| Min - Max | 14.55 - 101.68 |
| Source | The World Bank |
The latest value from 2024 is 84.64 percent, an increase from 82.26 percent in 2023. In comparison, the world average is 91.40 percent, based on data from 161 countries. Historically, the average for South Korea from 1960 to 2024 is 57.42 percent. The minimum value, 14.55 percent, was reached in 1960 while the maximum of 101.68 percent was recorded in 2011.
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* indicates monthly or quarterly data series
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Definition: Exports plus imports as percent of GDP.
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Terms of trade | 85.40 | 2023 | percent |
| Trade openness | 84.64 | 2024 | percent |
| Financial openness | 2.290 | 2022 | index points |
| Exports, percent of GDP | 44.36 | 2024 | percent |
| Exports, billion dollars | 856.86 | 2025 | billion U.S. dollars |
| Growth of exports | 3.08 | 2023 | percent |
| Imports, percent of GDP | 40.28 | 2024 | percent |
| Imports, billion dollars | 760.16 | 2025 | billion U.S. dollars |
| Foreign Direct Investment, percent of GDP | 0.69 | 2024 | percent |
| Foreign Direct Investment, billion dollars | 12.86 | 2024 | billion U.S. dollars |
| Portfolio investment inflows, equities | 2,385.80 | 2024 | million dollars (current) |
| Current account, percent of GDP | 5.33 | 2024 | percent |
| Current account, in dollars | 123.05 | 2025 | billion U.S. dollars |
| Current Account, quarterly | 7.64 | 12/2025 | percent |
| Trade balance, percent of GDP | 4.07 | 2024 | percent |
| Trade balance, in dollars | 81.48 | 2024 | billion U.S. dollars |
| Reserves | 418.22 | 2024 | billion U.S. dollars |
| Remittances, percent of GDP | 0.39 | 2024 | percent |
| Remittances | 7,449.40 | 2024 | million U.S. dollars |
| Net errors and omissions | -4,137.40 | 2024 | million USD |
| External debt | 35.88 | 2024 | percent |
| Short-term external debt | 21.78 | 2024 | percent |
| Short-term debt to reserves | 35.04 | 2024 | percent |
| External debt in foreign currencies | 69.87 | 2024 | percent |