Korea, Rep. | Exports of goods and services (current 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 current U.S. dollars. 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 (current US$)
1960 104554455.44555
1961 97762912.116751
1962 109230769.23077
1963 157692307.69231
1964 171618266.73033
1965 222596929.13835
1966 331690238.17202
1967 442486545.19296
1968 620651014.83851
1969 814822835.02822
1970 1030088634.6351
1971 1255374156.5185
1972 1803029925.1045
1973 3319929594.5965
1974 4344671145.7516
1975 4934710743.8017
1976 7634504132.2314
1977 10014876033.058
1978 12990909090.909
1979 15836157024.793
1980 18598774349.413
1981 21836243809.545
1982 21444999084.921
1983 24472628557.484
1984 28184469062.222
1985 27219948966.69
1986 37349870248.505
1987 51508721168.78
1988 64845735625.18
1989 67556196550.838
1990 70825424625.885
1991 78616541304.171
1992 85583336364.992
1993 92953674158.821
1994 111597197969.05
1995 145748724868.34
1996 151333458387.2
1997 161499993903.01
1998 151556684650.83
1999 162143920084.57
2000 195550495929.33
2001 174087560087.39
2002 186748689121.3
2003 220637266658.96
2004 291526414644.93
2005 329861919056.69
2006 375223465252.33
2007 438465966315.25
2008 498972049006.64
2009 426523458607.76
2010 538712363592.34
2011 668476213447.11
2012 691347149426.78
2013 703026030096.37
2014 710051954712.97
2015 630243710500.66
2016 601861268514.15
2017 664392545080.43
2018 719710064860.37
2019 648610576582.72
2020 597865413028.15
2021 761508986786.77
2022 808029011185.67

Korea, Rep. | Exports of goods and services (current 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 current U.S. dollars. 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