Korea, Rep. | Exports of goods and services (constant 2015 US$)

Exports of goods and services represent the value of all goods and other market services provided to the rest of the world. They include the value of merchandise, freight, insurance, transport, travel, royalties, license fees, and other services, such as communication, construction, financial, information, business, personal, and government services. They exclude compensation of employees and investment income (formerly called factor services) and transfer payments. Data are in constant 2015 prices, expressed in U.S. dollars. Development relevance: An economy's growth is measured by the change in the volume of its output or in the real incomes of its residents. The 2008 United Nations System of National Accounts (2008 SNA) offers three plausible indicators for calculating growth: the volume of gross domestic product (GDP), real gross domestic income, and real gross national income. The volume of GDP is the sum of value added, measured at constant prices, by households, government, and industries operating in the economy. GDP accounts for all domestic production, regardless of whether the income accrues to domestic or foreign institutions. Limitations and exceptions: Because policymakers have tended to focus on fostering the growth of output, and because data on production are easier to collect than data on spending, many countries generate their primary estimate of GDP using the production approach. Moreover, many countries do not estimate all the components of national expenditures but instead derive some of the main aggregates indirectly using GDP (based on the production approach) as the control total. Data on exports and imports are compiled from customs reports and balance of payments data. Although the data from the payments side provide reasonably reliable records of cross-border transactions, they may not adhere strictly to the appropriate definitions of valuation and timing used in the balance of payments or corresponds to the change-of ownership criterion. This issue has assumed greater significance with the increasing globalization of international business. Neither customs nor balance of payments data usually capture the illegal transactions that occur in many countries. Goods carried by travelers across borders in legal but unreported shuttle trade may further distort trade statistics. Statistical concept and methodology: Gross domestic product (GDP) from the expenditure side is made up of household final consumption expenditure, general government final consumption expenditure, gross capital formation (private and public investment in fixed assets, changes in inventories, and net acquisitions of valuables), and net exports (exports minus imports) of goods and services. Such expenditures are recorded in purchaser prices and include net taxes on products.
Publisher
The World Bank
Origin
Republic of Korea
Records
63
Source
Korea, Rep. | Exports of goods and services (constant 2015 US$)
1960 155090509.99047
1961 210088398.93806
1962 242892606.01131
1963 278349444.38427
1964 358989435.89585
1965 490206264.18881
1966 700471505.21353
1967 910559904.15159
1968 1256374604.5921
1969 1715368240.4876
1970 2241915553.4826
1971 2784024970.1026
1972 3978770107.4979
1973 6002904631.2732
1974 6260828814.6496
1975 7597224463.4501
1976 10569763097.92
1977 12883741801.711
1978 15060402625.221
1979 15510377314.697
1980 16831122438.829
1981 19164465351.109
1982 19556966362.425
1983 22775934444.639
1984 25650325721.018
1985 25982346738.7
1986 35082728938.66
1987 43655502773.105
1988 48315910703.588
1989 46544571942.677
1990 48912575903.939
1991 54890457379.952
1992 61545555626.784
1993 67738211817.03
1994 79997258947.657
1995 98361779119.813
1996 108384746485.82
1997 128667649613.93
1998 147407605536.04
1999 165494572053.2
2000 193604594357.41
2001 190121512618.79
2002 214481244791.45
2003 243606782778.23
2004 294775863707.8
2005 318060749677.82
2006 356371465645.11
2007 401288294601.23
2008 431794880863.7
2009 429822561071.31
2010 485819077282.2
2011 560718774661.18
2012 593203516504.89
2013 615865299382.6
2014 628771146445.14
2015 630243710500.66
2016 645194913137.38
2017 661197972505.48
2018 687486786580.34
2019 689125316934.18
2020 677363284488.07
2021 752514981840.53
2022 778315181229.98

Korea, Rep. | Exports of goods and services (constant 2015 US$)

Exports of goods and services represent the value of all goods and other market services provided to the rest of the world. They include the value of merchandise, freight, insurance, transport, travel, royalties, license fees, and other services, such as communication, construction, financial, information, business, personal, and government services. They exclude compensation of employees and investment income (formerly called factor services) and transfer payments. Data are in constant 2015 prices, expressed in U.S. dollars. Development relevance: An economy's growth is measured by the change in the volume of its output or in the real incomes of its residents. The 2008 United Nations System of National Accounts (2008 SNA) offers three plausible indicators for calculating growth: the volume of gross domestic product (GDP), real gross domestic income, and real gross national income. The volume of GDP is the sum of value added, measured at constant prices, by households, government, and industries operating in the economy. GDP accounts for all domestic production, regardless of whether the income accrues to domestic or foreign institutions. Limitations and exceptions: Because policymakers have tended to focus on fostering the growth of output, and because data on production are easier to collect than data on spending, many countries generate their primary estimate of GDP using the production approach. Moreover, many countries do not estimate all the components of national expenditures but instead derive some of the main aggregates indirectly using GDP (based on the production approach) as the control total. Data on exports and imports are compiled from customs reports and balance of payments data. Although the data from the payments side provide reasonably reliable records of cross-border transactions, they may not adhere strictly to the appropriate definitions of valuation and timing used in the balance of payments or corresponds to the change-of ownership criterion. This issue has assumed greater significance with the increasing globalization of international business. Neither customs nor balance of payments data usually capture the illegal transactions that occur in many countries. Goods carried by travelers across borders in legal but unreported shuttle trade may further distort trade statistics. Statistical concept and methodology: Gross domestic product (GDP) from the expenditure side is made up of household final consumption expenditure, general government final consumption expenditure, gross capital formation (private and public investment in fixed assets, changes in inventories, and net acquisitions of valuables), and net exports (exports minus imports) of goods and services. Such expenditures are recorded in purchaser prices and include net taxes on products.
Publisher
The World Bank
Origin
Republic of Korea
Records
63
Source