External balance on goods and services in Korea
Korea: External balance on goods and services was 5.2% in 2025. ◆ Volatile
External balance on goods and services in Korea, 1960–2025
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in % of GDP.
Analysis
In 2025, external balance on goods and services in Korea stood at 5.2%.
Compared with earlier readings it is up 26.8% on the previous year and down 21.1% over ten years.
Over the whole period, external balance on goods and services in Korea peaked at 10.1% in 1998 and was at its lowest, -12.4%, in 1968.
That places Korea 39th out of 193 countries with data for 2025, putting it 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 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
- Households and NPISHs Final consumption expenditure (current LCU) 3.17 % change on previous year (2025)
- Households and NPISHs Final consumption expenditure (current LCU) 683.09 current LCU per US$ of GDP (2025)
- Households and NPISHs Final consumption expenditure (current LCU) 24.75 million current LCU per person (2025)
- Households and NPISHs Final consumption expenditure (constant 2015) 1.32 % change on previous year (2025)
- Households and NPISHs Final consumption expenditure (constant 2015) 0.4928 constant 2015 US$ per US$ of GDP (2025)
- Households and NPISHs Final consumption expenditure (constant 2015) 17,853 constant 2015 US$ per person (2025)
- Final consumption expenditure (current US$), annual growth rate -0.6167 % change on previous year (2025)
- Final consumption expenditure (current US$), per unit of GDP 0.6567 current US$ per US$ of GDP (2025)
- Final consumption expenditure (current US$), per capita 23,790 current US$ per person (2025)
- Final consumption expenditure (current LCU), annual growth rate 3.69 % change on previous year (2025)
Frequently asked questions
- What is external balance on goods and services in Korea?
- External balance on goods and services in Korea was 5.2% in 2025, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest external balance on goods and services recorded in Korea?
- The highest recorded value was 10.1% in 1998.
- What is the lowest external balance on goods and services recorded in Korea?
- The lowest recorded value was -12.4% in 1968.
- How does Korea rank for external balance on goods and services?
- Korea ranks 39th out of 193 countries with data for 2025.
- Is external balance on goods and services 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 Country official statistics, National Statistical Organizations and/or Central Banks, published as part of External balance on goods and services (% of GDP). Statizoid updates them automatically from the source API.
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About this data
The balance of international trade in goods and services is the difference between the 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.