Korea, Rep.: Imports of goods and services (% of GDP)
In , Korea, Rep.'s Imports of goods and services (% of GDP) was 40.28.
That's down 1.6% from 2023, the highest value since .
The global average for this indicator in 2024 was 47.94 . Korea, Rep. ranks #85 globally out of 160 reporting countries. Within East Asia & Pacific, it ranks #17 of 24.
Source: World Bank Open Data (NE.IMP.GNFS.ZS) • Data as of 2024
Trend (2005–2024)
- 2008 · Global financial crisis
- 2020 · COVID-19 pandemic
- 2014 · Oil price collapse
- 2022 · Russia–Ukraine war begins
Highlights
- Peak
- 50.40
- Trough
- 30.93
- 1-year change
- -1.6%
- 5-year change
- +17.1%
- +3.2% / yr
- 10-year change
- -2.1%
- -0.2% / yr
Historical Data — Last 10 Years
| Year | Imports of goods and services (% of GDP) |
|---|---|
| 40.2843 | |
| 40.9365 | |
| 45.2903 | |
| 35.9675 | |
| 30.9298 | |
| 34.4057 | |
| 35.2552 | |
| 34.3433 | |
| 31.7867 | |
| 34.4200 |
About Imports of goods and services (% of GDP)
Imports of goods includes change in the economic ownership of goods from non-residents to residents of the compiling economy, irrespective of physical movement of goods across national borders. Imports of services includes services provided by non-residents to residents. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.
Indicator code: NE.IMP.GNFS.ZS • Category: Economy
Frequently asked questions
- What was Korea, Rep.'s Imports of goods and services (% of GDP) in 2024?
- In 2024, Korea, Rep.'s Imports of goods and services (% of GDP) was 40.28, according to World Bank Open Data.
- Is Korea, Rep.'s Imports of goods and services (% of GDP) rising or falling?
- Korea, Rep.'s Imports of goods and services (% of GDP) fell 1.6% from 2023 to 2024.
- How does Korea, Rep. rank globally on Imports of goods and services (% of GDP)?
- In 2024, Korea, Rep. ranked #85 out of 160 countries reporting Imports of goods and services (% of GDP).
- How does Korea, Rep.'s Imports of goods and services (% of GDP) compare to the world average?
- The global average for Imports of goods and services (% of GDP) in 2024 was 47.94, so Korea, Rep. is below the world average. Within East Asia & Pacific, it ranks #17 of 24.
- What is Imports of goods and services (% of GDP) and how is it measured?
- Imports of goods includes change in the economic ownership of goods from non-residents to residents of the compiling economy, irrespective of physical movement of goods across national borders. Imports of services includes services provided by non-residents to residents. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.
Source: World Bank Open Data (NE.IMP.GNFS.ZS), CC BY 4.0.