South Korea: Trade openness

* indicates monthly or quarterly data series
 South Korea

Trade openness: exports plus imports as percent of GDP

 Latest value 97.04
 Year 2022
 Measure percent
 Data availability 1960 - 2022
 Average 58.42
 Min - Max 14.61 - 105.57
 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 58.42 percent with a minimum of 14.61 percent in 1960 and a maximum of 105.57 percent in 2011. The latest value from 2022 is 97.04 percent. For comparison, the world average in 2022 based on 146 countries is 101.05 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 - Trade openness - recent values

Historical chart
South Korea - Trade openness - historical chart - 1960-2022




Definition: Exports plus imports as percent of GDP.


 Related indicators Latest value Reference Measure
 Terms of trade 92.30 2021 percent
 Trade openness 97.04 2022 percent
 Exports, percent of GDP 48.26 2022 percent
 Exports, billion dollars 808.03 2022 billion U.S. dollars
 Growth of exports 3.43 2022 percent
 Imports, percent of GDP 48.53 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 7,109.10 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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