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Korea, Rep.: Trade (% of GDP)

In , Korea, Rep.'s Trade (% of GDP) was 84.64.

That's up 2.9% from 2023, the highest value since .

The global average for this indicator in 2024 was 92.19 . Korea, Rep. ranks #76 globally out of 160 reporting countries. Within East Asia & Pacific, it ranks #15 of 24.

Source: World Bank Open Data (NE.TRD.GNFS.ZS) • Data as of 2024

Trend (2005–2024)

Korea, Rep. Trade (% of GDP) trend 2008: Global financial crisis 2020: COVID-19 pandemic 2014: Oil price collapse 2022: Russia–Ukraine war begins
  • 2008 · Global financial crisis
  • 2020 · COVID-19 pandemic
  • 2014 · Oil price collapse
  • 2022 · Russia–Ukraine war begins

Highlights

Peak
101.68
Trough
65.54
1-year change
+2.9%
5-year change
+18.5%
+3.4% / yr
10-year change
-2.6%
-0.3% / yr

Historical Data — Last 10 Years

Year Trade (% of GDP)
84.6425
82.2580
90.5851
75.3063
65.5450
71.4471
74.7075
73.1921
69.8997
75.3882

About Trade (% of GDP)

Trade is the sum of exports and imports of goods and services. 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.TRD.GNFS.ZS • Category: Economy

Frequently asked questions

What was Korea, Rep.'s Trade (% of GDP) in 2024?
In 2024, Korea, Rep.'s Trade (% of GDP) was 84.64, according to World Bank Open Data.
Is Korea, Rep.'s Trade (% of GDP) rising or falling?
Korea, Rep.'s Trade (% of GDP) rose 2.9% from 2023 to 2024.
How does Korea, Rep. rank globally on Trade (% of GDP)?
In 2024, Korea, Rep. ranked #76 out of 160 countries reporting Trade (% of GDP).
How does Korea, Rep.'s Trade (% of GDP) compare to the world average?
The global average for Trade (% of GDP) in 2024 was 92.19, so Korea, Rep. is below the world average. Within East Asia & Pacific, it ranks #15 of 24.
What is Trade (% of GDP) and how is it measured?
Trade is the sum of exports and imports of goods and services. 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.
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Source: World Bank Open Data (NE.TRD.GNFS.ZS), CC BY 4.0.