In 2022, South Korea's exports and imports of goods and services accounted for about 102 percent of its gross domestic product (GDP). This was up from about 85.3 percent of GDP in the previous year. After the Korean War (1950-1953), South Korea developed into an export-oriented country, which was, among other things, an important factor for the country's economic growth. South Korea's share of imports and exports in its GDP is relatively high compared to other member countries of the Organization for Economic Cooperation and Development (OECD).
Exports and imports of goods and services as percentage of gross domestic product (GDP) in South Korea from 1970 to 2022
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Statistics Korea. (June 7, 2023). Exports and imports of goods and services as percentage of gross domestic product (GDP) in South Korea from 1970 to 2022 [Graph]. In Statista. Retrieved April 24, 2024, from https://www.statista.com/statistics/1323019/south-korea-exports-and-imports-as-percentage-of-gdp/
Statistics Korea. "Exports and imports of goods and services as percentage of gross domestic product (GDP) in South Korea from 1970 to 2022." Chart. June 7, 2023. Statista. Accessed April 24, 2024. https://www.statista.com/statistics/1323019/south-korea-exports-and-imports-as-percentage-of-gdp/
Statistics Korea. (2023). Exports and imports of goods and services as percentage of gross domestic product (GDP) in South Korea from 1970 to 2022. Statista. Statista Inc.. Accessed: April 24, 2024. https://www.statista.com/statistics/1323019/south-korea-exports-and-imports-as-percentage-of-gdp/
Statistics Korea. "Exports and Imports of Goods and Services as Percentage of Gross Domestic Product (Gdp) in South Korea from 1970 to 2022." Statista, Statista Inc., 7 Jun 2023, https://www.statista.com/statistics/1323019/south-korea-exports-and-imports-as-percentage-of-gdp/
Statistics Korea, Exports and imports of goods and services as percentage of gross domestic product (GDP) in South Korea from 1970 to 2022 Statista, https://www.statista.com/statistics/1323019/south-korea-exports-and-imports-as-percentage-of-gdp/ (last visited April 24, 2024)
Exports and imports of goods and services as percentage of gross domestic product (GDP) in South Korea from 1970 to 2022 [Graph], Statistics Korea, June 7, 2023. [Online]. Available: https://www.statista.com/statistics/1323019/south-korea-exports-and-imports-as-percentage-of-gdp/