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South Korea Net Trade (Goods & Services, BoP)

South Korea's net trade (goods & services, bop) rose to $76.43 billion in 2024, up from $10.83 billion in 2023, according to World Bank. This represents an increase of 605.4% ($65.59 billion) from the previous year. South Korea has the 8th highest net trade (goods & services, bop). Within Asia, it ranks 3rd out of 42 countries.

Yearly Historical Data (1976-2024)

(in Billion USD)
Year Net Trade (Goods & Services, BoP) (Billion USD)
2024 76.43
2023 10.83
2022 8.37
2021 70.44
2020 65.93
2019 52.97
2018 80.72
2017 76.86
2016 99.12
2015 105.65
2014 82.85
2013 73.93
2012 43.53
2011 15.96
2010 33.96
2009 38.72
2008 5.44
2007 19.4
2006 11.47
2005 23.51
2004 34.12
2003 17.29
2002 8.59
2001 7.14
2000 14.55
1999 26.49
1998 42.5
1997 -7.99
1996 -21.98
1995 -8.4
1994 -4.43
1993 1.66
1992 -3.27
1991 -8.17
1990 -3.19
1989 3.72
1988 12.58
1987 9.75
1986 4.44
1985 0.08
1984 0.63
1983 -1.51
1982 -3.18
1981 -4.16
1980 -5.28
1979 -3.51
1978 -0.92
1977 0.28
1976 -0.25
South Korea Net Trade (Goods & Services, BoP) : Definition
Net Trade (Goods & Services, BoP) measures the difference between exports and imports of goods and services in South Korea, recorded on a Balance of Payments basis and measured in current US dollars. A positive value indicates a trade surplus, while a negative value indicates a trade deficit.
Indicator Last Value Prior Value Period
Annual Exports $683.13B $631.8B 2024
Annual Imports $631.73B $642.55B 2024
Balance of Trade $9.6B $6.5B Sep'25
Exports $66B $58.4B Sep'25
Exports (% GDP) 44% 48.27% 2023
FDI Inflows (% GDP) 1.11% 1.5% 2023
Imports $56.4B $51.9B Sep'25
Imports (% GDP) 43.94% 48.26% 2023
Tariff Rate 5.73% 5% 2022
Trade (% GDP) 87.94% 96.54% 2023