In 2023, South Korea's exports and imports of goods and services as a share of the country's GDP stood at almost 89 percent. This was down from about 96 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).
Trade as a share of gross domestic product (GDP) in South Korea from 1990 to 2023
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Statistics Korea. (December 18, 2024). Trade as a share of gross domestic product (GDP) in South Korea from 1990 to 2023 [Graph]. In Statista. Retrieved February 09, 2025, from https://www.statista.com/statistics/1323019/south-korea-exports-and-imports-as-percentage-of-gdp/?__sso_cookie_checker=failed
Statistics Korea. "Trade as a share of gross domestic product (GDP) in South Korea from 1990 to 2023." Chart. December 18, 2024. Statista. Accessed February 09, 2025. https://www.statista.com/statistics/1323019/south-korea-exports-and-imports-as-percentage-of-gdp/?__sso_cookie_checker=failed
Statistics Korea. (2024). Trade as a share of gross domestic product (GDP) in South Korea from 1990 to 2023. Statista. Statista Inc.. Accessed: February 09, 2025. https://www.statista.com/statistics/1323019/south-korea-exports-and-imports-as-percentage-of-gdp/?__sso_cookie_checker=failed
Statistics Korea. "Trade as a Share of Gross Domestic Product (Gdp) in South Korea from 1990 to 2023." Statista, Statista Inc., 18 Dec 2024, https://www.statista.com/statistics/1323019/south-korea-exports-and-imports-as-percentage-of-gdp/?__sso_cookie_checker=failed
Statistics Korea, Trade as a share of gross domestic product (GDP) in South Korea from 1990 to 2023 Statista, https://www.statista.com/statistics/1323019/south-korea-exports-and-imports-as-percentage-of-gdp/?__sso_cookie_checker=failed (last visited February 09, 2025)
Trade as a share of gross domestic product (GDP) in South Korea from 1990 to 2023 [Graph], Statistics Korea, December 18, 2024. [Online]. Available: https://www.statista.com/statistics/1323019/south-korea-exports-and-imports-as-percentage-of-gdp/?__sso_cookie_checker=failed