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South Korea Trade (% GDP)

South Korea's trade (% GDP) fell to 87.94% in 2023, down from 96.54% in 2022, according to World Bank. This represents a decrease of 8.6% from the previous year. South Korea has trade (% GDP) higher than the global median (87.94% vs median 84.49%). Compared with the median in Asia, South Korea is higher (87.94% vs regional median 82.69%) and ranks 22nd out of 45 countries in Asia.

Yearly Historical Data (1960-2023)

(in %)
Year Trade (% GDP)
2023 87.94%
2022 96.54%
2021 80.2%
2020 69.03%
2019 75.76%
2018 78.99%
2017 77.12%
2016 73.6%
2015 79.13%
2014 90.61%
2013 97.95%
2012 105.46%
2011 105.57%
2010 91.4%
2009 86.13%
2008 95.52%
2007 73.87%
2006 70.65%
2005 68.32%
2004 70.02%
2003 61.17%
2002 58.35%
2001 62.22%
2000 66.1%
1999 59.76%
1998 68.5%
1997 57.52%
1996 52.65%
1995 52.46%
1994 48.67%
1993 46.92%
1992 48.76%
1991 49.83%
1990 50.75%
1989 52.91%
1988 58.7%
1987 63%
1986 60.11%
1985 52.66%
1984 57.37%
1983 57.91%
1982 60.23%
1981 67.13%
1980 65.53%
1979 54.54%
1978 54.22%
1977 53.93%
1976 53.88%
1975 53.98%
1974 55.53%
1973 51.58%
1972 38.04%
1971 35.69%
1970 32.56%
1969 33.06%
1968 32.78%
1967 28.79%
1966 26.66%
1965 21.46%
1964 17.34%
1963 18.61%
1962 19.49%
1961 18%
1960 14.61%
South Korea Trade (% GDP) : Definition
Trade (% GDP) measures the sum of exports and imports for South Korea divided by its total economic output, shown as a percentage.
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
Net Trade (Goods & Services, BoP) $76.43B $10.83B 2024
Tariff Rate 5.73% 5% 2022