South Korea: Trade openness

* indicates monthly or quarterly data series
 South Korea

Trade openness: exports plus imports as percent of GDP

 Latest value 96.54
 Year 2022
 Measure percent
 Data availability 1960 - 2022
 Average 58.41
 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 58.41 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 96.54 percent. For comparison, the world average in 2022 based on 157 countries is 100.30 percent. See the global rankings for that indicator or use the country comparator to compare trends over time.
Select indicator
* indicates monthly or quarterly data series


Recent values chart
South Korea - Trade openness - Recent values chart

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




Definition: Exports plus imports as percent of GDP.

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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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