Korea - Travel services (% of service imports, BoP)

Travel services (% of service imports, BoP) in Korea was 13.42 as of 2021. Its highest value over the past 45 years was 28.40 in 2002, while its lowest value was 3.86 in 1976.

Definition: Travel covers goods and services acquired from an economy by travelers for their own use during visits of less than one year in that economy for either business or personal purposes. Travel includes local transport (i.e., transport within the economy being visited and provided by a resident of that economy), but excludes international transport (which is included in passenger transport. Travel also excludes goods for resale, which are included in general merchandise.

Source: International Monetary Fund, Balance of Payments Statistics Yearbook and data files.

See also:

Year Value
1976 3.86
1977 5.09
1978 6.51
1979 11.56
1980 9.35
1981 10.68
1982 15.84
1983 13.91
1984 14.27
1985 16.74
1986 14.97
1987 12.89
1988 19.49
1989 27.61
1990 26.90
1991 26.32
1992 23.61
1993 23.40
1994 24.25
1995 24.56
1996 25.28
1997 23.69
1998 14.13
1999 17.95
2000 21.35
2001 23.05
2002 28.40
2003 24.88
2004 24.54
2005 25.88
2006 26.85
2007 26.00
2008 19.57
2009 18.36
2010 19.36
2011 19.41
2012 19.08
2013 19.74
2014 20.13
2015 22.54
2016 24.29
2017 25.07
2018 26.41
2019 25.05
2020 15.43
2021 13.42

Aggregation method: Weighted average

Periodicity: Annual

General Comments: Note: Data are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6) and are only available from 2005 onwards.

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: Balance of payments