External balance on goods and services as a percent of GDP in Korea
Korea: External balance on goods and services as a percent of GDP was 5.2% in 2025. ◆ Volatile
Latest (2025)
5.2%
Change on year
up 26.8%
World rank
39th
of 191 countries
All-time high
10.1%
in 1998
All-time low
-12.4%
in 1968
Years of data
66
1960–2025
External balance on goods and services as a percent of GDP in Korea, 1960–2025
Source: National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – processed by Our World in Data. Measured in % of GDP.
Analysis
Korea recorded 5.2% for external balance on goods and services as a percent of gdp in 2025.
That represents a change of up 26.8% on the previous year and down 21.1% over ten years.
Over the whole period, external balance on goods and services as a percent of gdp in Korea peaked at 10.1% in 1998 and was at its lowest, -12.4%, in 1968.
Korea ranks 39th of 191 countries on this measure, in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
External balance on goods and services as a percent of GDP in Korea, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1960 | -9.3% | — |
| 1961 | -9.9% | +6.3% |
| 1962 | -11.7% | +18.3% |
| 1963 | -10.7% | -8.7% |
| 1964 | -7.4% | -30.7% |
| 1965 | -7.1% | -3.2% |
| 1966 | -9.7% | +35.8% |
| 1967 | -10.5% | +8.0% |
| 1968 | -12.4% | +18.3% |
| 1969 | -11.7% | -5.3% |
| 1970 | -9.6% | -17.9% |
| 1971 | -10.3% | +6.7% |
| 1972 | -4.9% | -52.7% |
| 1973 | -3.8% | -22.6% |
| 1974 | -11.0% | +192.2% |
| 1975 | -8.7% | -21.2% |
| 1976 | -2.9% | -66.8% |
| 1977 | -1.9% | -33.2% |
| 1978 | -4.3% | +121.9% |
| 1979 | -7.3% | +69.9% |
| 1980 | -8.8% | +21.0% |
| 1981 | -7.4% | -15.7% |
| 1982 | -5.6% | -24.7% |
| 1983 | -2.3% | -59.1% |
| 1984 | 0.3% | -111.8% |
| 1985 | 0.9% | +236.0% |
| 1986 | 3.5% | +291.4% |
| 1987 | 6.3% | +76.8% |
| 1988 | 5.9% | -5.1% |
| 1989 | 1.6% | -72.7% |
| 1990 | -0.9% | -152.6% |
| 1991 | -2.3% | +171.3% |
| 1992 | -0.7% | -70.4% |
| 1993 | 0.3% | -143.2% |
| 1994 | -0.7% | -346.0% |
| 1995 | -1.2% | +66.9% |
| 1996 | -3.3% | +172.5% |
| 1997 | -0.9% | -71.3% |
| 1998 | 10.1% | -1168.8% |
| 1999 | 5.1% | -49.4% |
| 2000 | 1.7% | -67.4% |
| 2001 | 1.3% | -22.3% |
| 2002 | 1.1% | -17.6% |
| 2003 | 1.5% | +37.0% |
| 2004 | 3.3% | +124.7% |
| 2005 | 2.1% | -36.7% |
| 2006 | 0.5% | -75.2% |
| 2007 | 0.8% | +47.0% |
| 2008 | -0.4% | -151.3% |
| 2009 | 3.9% | -1101.6% |
| 2010 | 2.5% | -35.4% |
| 2011 | 0.9% | -64.9% |
| 2012 | 2.5% | +186.8% |
| 2013 | 4.3% | +70.0% |
| 2014 | 4.6% | +7.9% |
| 2015 | 6.5% | +41.1% |
| 2016 | 6.3% | -3.4% |
| 2017 | 4.5% | -28.8% |
| 2018 | 4.2% | -6.8% |
| 2019 | 2.6% | -37.2% |
| 2020 | 3.7% | +39.8% |
| 2021 | 3.4% | -8.5% |
| 2022 | 0.0% | -99.9% |
| 2023 | 0.4% | +8315.3% |
| 2024 | 4.1% | +958.3% |
| 2025 | 5.2% | +26.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | -10.0% | -12.4% | -7.1% | 10 |
| 1970s | -6.5% | -11.0% | -1.9% | 10 |
| 1980s | -0.5% | -8.8% | 6.3% | 10 |
| 1990s | 0.6% | -3.3% | 10.1% | 10 |
| 2000s | 1.6% | -0.4% | 3.9% | 10 |
| 2010s | 3.9% | 0.9% | 6.5% | 10 |
| 2020s | 2.8% | 0.0% | 5.2% | 6 |
Countries ranked near Korea
More economy & growth data for Korea
- Total reserves minus gold (current US$), annual growth rate 3.04 % change on previous year (2025)
- Total reserves minus gold (current US$), per unit of GDP 0.2253 current US$ per US$ of GDP (2025)
- Total reserves minus gold (current US$), per capita 8,163 current US$ per person (2025)
- General government final consumption expenditure (current US$) 0.7703 % change on previous year (2025)
- General government final consumption expenditure (current US$), per 0.1765 current US$ per US$ of GDP (2025)
- General government final consumption expenditure (current US$), per 6,393 current US$ per person (2025)
- General government final consumption expenditure (current LCU) 5.14 % change on previous year (2025)
- General government final consumption expenditure (current LCU), per 251.03 current LCU per US$ of GDP (2025)
- General government final consumption expenditure (current LCU), per 9.09 million current LCU per person (2025)
- General government final consumption expenditure (constant 2015 US$) 2.96 % change on previous year (2025)
Frequently asked questions
- What is external balance on goods and services as a percent of gdp in Korea?
- External balance on goods and services as a percent of gdp in Korea was 5.2% in 2025, according to National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – processed by Our World in Data.
- What is the highest external balance on goods and services as a percent of gdp recorded in Korea?
- The highest recorded value was 10.1% in 1998.
- What is the lowest external balance on goods and services as a percent of gdp recorded in Korea?
- The lowest recorded value was -12.4% in 1968.
- How does Korea rank for external balance on goods and services as a percent of gdp?
- Korea ranks 39th out of 191 countries with data for 2025.
- Is external balance on goods and services as a percent of gdp rising or falling in Korea?
- Over the last ten years it is down 21.1%. The long-run trend across the full record is volatile.
- Where does this Korea data come from?
- The figures come from National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – processed by Our World in Data, published as part of External balance on goods and services as a percent of GDP. Statizoid updates them automatically from the source API.
Download this data
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About this data
Exports of goods and services minus imports of goods and services divided by gross domestic product, expressed as a percentage.