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).
Trade as a share of gross domestic product (GDP) in South Korea from 1970 to 2022
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Statistics Korea. (October 12, 2023). Trade as a share of gross domestic product (GDP) in South Korea from 1970 to 2022 [Graph]. In Statista. Retrieved November 22, 2024, from https://www.statista.com/statistics/1323019/south-korea-exports-and-imports-as-percentage-of-gdp/
Statistics Korea. "Trade as a share of gross domestic product (GDP) in South Korea from 1970 to 2022." Chart. October 12, 2023. Statista. Accessed November 22, 2024. https://www.statista.com/statistics/1323019/south-korea-exports-and-imports-as-percentage-of-gdp/
Statistics Korea. (2023). Trade as a share of gross domestic product (GDP) in South Korea from 1970 to 2022. Statista. Statista Inc.. Accessed: November 22, 2024. https://www.statista.com/statistics/1323019/south-korea-exports-and-imports-as-percentage-of-gdp/
Statistics Korea. "Trade as a Share of Gross Domestic Product (Gdp) in South Korea from 1970 to 2022." Statista, Statista Inc., 12 Oct 2023, https://www.statista.com/statistics/1323019/south-korea-exports-and-imports-as-percentage-of-gdp/
Statistics Korea, Trade as a share 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 November 22, 2024)
Trade as a share of gross domestic product (GDP) in South Korea from 1970 to 2022 [Graph], Statistics Korea, October 12, 2023. [Online]. Available: https://www.statista.com/statistics/1323019/south-korea-exports-and-imports-as-percentage-of-gdp/
