Korea - External balance on goods and services
External balance on goods and services (current US$)
The latest value for External balance on goods and services (current US$) in Korea was $60,212,290,000 as of 2020. Over the past 60 years, the value for this indicator has fluctuated between $100,356,000,000 in 2015 and ($18,610,350,000) in 1996.
Definition: External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services). Data are in current U.S. dollars.
Source: World Bank national accounts data, and OECD National Accounts data files.
See also:
| Year | Value |
|---|---|
| 1960 | ($370,377,400) |
| 1961 | ($239,840,600) |
| 1962 | ($329,924,400) |
| 1963 | ($427,155,500) |
| 1964 | ($256,539,900) |
| 1965 | ($224,737,200) |
| 1966 | ($384,056,900) |
| 1967 | ($513,085,900) |
| 1968 | ($764,467,700) |
| 1969 | ($909,147,700) |
| 1970 | ($871,973,200) |
| 1971 | ($1,023,765,000) |
| 1972 | ($526,101,400) |
| 1973 | ($517,423,200) |
| 1974 | ($2,163,572,000) |
| 1975 | ($1,890,083,000) |
| 1976 | ($842,562,000) |
| 1977 | ($702,686,000) |
| 1978 | ($2,196,281,000) |
| 1979 | ($4,843,595,000) |
| 1980 | ($5,658,594,000) |
| 1981 | ($5,288,754,000) |
| 1982 | ($4,304,454,000) |
| 1983 | ($1,878,827,000) |
| 1984 | $429,167,000 |
| 1985 | $1,100,319,000 |
| 1986 | $4,472,971,000 |
| 1987 | $9,809,499,000 |
| 1988 | $12,524,100,000 |
| 1989 | $4,453,281,000 |
| 1990 | ($2,158,217,000) |
| 1991 | ($7,512,102,000) |
| 1992 | ($2,185,230,000) |
| 1993 | $1,673,789,000 |
| 1994 | ($2,430,767,000) |
| 1995 | ($5,753,757,000) |
| 1996 | ($18,610,350,000) |
| 1997 | ($4,740,405,000) |
| 1998 | $40,540,660,000 |
| 1999 | $26,959,670,000 |
| 2000 | $10,274,280,000 |
| 2001 | $7,402,613,000 |
| 2002 | $7,479,718,000 |
| 2003 | $11,391,560,000 |
| 2004 | $27,705,270,000 |
| 2005 | $20,954,450,000 |
| 2006 | $6,329,452,000 |
| 2007 | $10,668,840,000 |
| 2008 | ($2,435,922,000) |
| 2009 | $39,995,610,000 |
| 2010 | $32,124,000,000 |
| 2011 | $13,900,130,000 |
| 2012 | $34,898,200,000 |
| 2013 | $63,495,750,000 |
| 2014 | $74,934,320,000 |
| 2015 | $100,356,000,000 |
| 2016 | $99,929,820,000 |
| 2017 | $77,094,660,000 |
| 2018 | $76,543,750,000 |
| 2019 | $46,150,390,000 |
| 2020 | $60,212,290,000 |
External balance on goods and services (current LCU)
The value for External balance on goods and services (current LCU) in Korea was 71,066,500,000,000 as of 2020. As the graph below shows, over the past 60 years this indicator reached a maximum value of 115,962,000,000,000 in 2016 and a minimum value of -14,971,100,000,000 in 1996.
Definition: External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services). Data are in current local currency.
Source: World Bank national accounts data, and OECD National Accounts data files.
| Year | Value |
|---|---|
| 1960 | -23,380,000,000 |
| 1961 | -29,930,000,000 |
| 1962 | -42,890,000,000 |
| 1963 | -55,530,000,000 |
| 1964 | -54,860,000,000 |
| 1965 | -59,870,000,000 |
| 1966 | -104,210,000,000 |
| 1967 | -138,800,000,000 |
| 1968 | -211,490,000,000 |
| 1969 | -261,980,000,000 |
| 1970 | -270,800,000,000 |
| 1971 | -355,400,000,000 |
| 1972 | -206,700,000,000 |
| 1973 | -206,100,000,000 |
| 1974 | -875,100,000,000 |
| 1975 | -914,800,000,000 |
| 1976 | -407,800,000,000 |
| 1977 | -340,100,000,000 |
| 1978 | -1,063,000,000,000 |
| 1979 | -2,344,300,000,000 |
| 1980 | -3,437,200,000,000 |
| 1981 | -3,601,800,000,000 |
| 1982 | -3,146,900,000,000 |
| 1983 | -1,457,500,000,000 |
| 1984 | 345,900,000,000 |
| 1985 | 957,300,000,000 |
| 1986 | 3,942,700,000,000 |
| 1987 | 8,069,000,000,000 |
| 1988 | 9,161,000,000,000 |
| 1989 | 2,990,200,000,000 |
| 1990 | -1,527,500,000,000 |
| 1991 | -5,509,000,000,000 |
| 1992 | -1,705,900,000,000 |
| 1993 | 1,343,500,000,000 |
| 1994 | -1,953,000,000,000 |
| 1995 | -4,437,700,000,000 |
| 1996 | -14,971,100,000,000 |
| 1997 | -4,509,500,000,000 |
| 1998 | 56,815,300,000,000 |
| 1999 | 32,050,200,000,000 |
| 2000 | 11,619,800,000,000 |
| 2001 | 9,556,700,000,000 |
| 2002 | 9,357,801,000,000 |
| 2003 | 13,574,300,000,000 |
| 2004 | 31,731,400,000,000 |
| 2005 | 21,459,800,000,000 |
| 2006 | 6,043,300,000,000 |
| 2007 | 9,914,100,000,000 |
| 2008 | -2,684,500,000,000 |
| 2009 | 51,071,600,000,000 |
| 2010 | 37,137,300,000,000 |
| 2011 | 15,405,400,000,000 |
| 2012 | 39,311,800,000,000 |
| 2013 | 69,518,500,000,000 |
| 2014 | 78,902,900,000,000 |
| 2015 | 113,519,000,000,000 |
| 2016 | 115,962,000,000,000 |
| 2017 | 87,149,700,000,000 |
| 2018 | 84,236,400,000,000 |
| 2019 | 53,781,700,000,000 |
| 2020 | 71,066,500,000,000 |
External balance on goods and services (constant LCU)
The value for External balance on goods and services (constant LCU) in Korea was 103,290,000,000,000 as of 2020. As the graph below shows, over the past 5 years this indicator reached a maximum value of 113,519,000,000,000 in 2015 and a minimum value of 61,694,300,000,000 in 2017.
Definition: External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services). Data are in constant local currency.
Source: World Bank national accounts data, and OECD National Accounts data files.
| Year | Value |
|---|---|
| 2015 | 113,519,000,000,000 |
| 2016 | 99,418,200,000,000 |
| 2017 | 61,694,300,000,000 |
| 2018 | 79,673,800,000,000 |
| 2019 | 94,851,200,000,000 |
| 2020 | 103,290,000,000,000 |
External balance on goods and services (% of GDP)
External balance on goods and services (% of GDP) in Korea was 3.68 as of 2020. Its highest value over the past 60 years was 10.58 in 1998, while its lowest value was -12.49 in 1968.
Definition: External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services).
Source: World Bank national accounts data, and OECD National Accounts data files.
See also:
| Year | Value |
|---|---|
| 1960 | -9.36 |
| 1961 | -9.92 |
| 1962 | -11.72 |
| 1963 | -10.71 |
| 1964 | -7.42 |
| 1965 | -7.20 |
| 1966 | -9.78 |
| 1967 | -10.57 |
| 1968 | -12.49 |
| 1969 | -11.84 |
| 1970 | -9.68 |
| 1971 | -10.34 |
| 1972 | -4.84 |
| 1973 | -3.73 |
| 1974 | -11.07 |
| 1975 | -8.68 |
| 1976 | -2.82 |
| 1977 | -1.83 |
| 1978 | -4.23 |
| 1979 | -7.23 |
| 1980 | -8.65 |
| 1981 | -7.25 |
| 1982 | -5.49 |
| 1983 | -2.14 |
| 1984 | 0.44 |
| 1985 | 1.09 |
| 1986 | 3.83 |
| 1987 | 6.63 |
| 1988 | 6.27 |
| 1989 | 1.80 |
| 1990 | -0.76 |
| 1991 | -2.27 |
| 1992 | -0.61 |
| 1993 | 0.43 |
| 1994 | -0.52 |
| 1995 | -1.02 |
| 1996 | -3.05 |
| 1997 | -0.83 |
| 1998 | 10.58 |
| 1999 | 5.42 |
| 2000 | 1.78 |
| 2001 | 1.35 |
| 2002 | 1.19 |
| 2003 | 1.62 |
| 2004 | 3.49 |
| 2005 | 2.24 |
| 2006 | 0.60 |
| 2007 | 0.91 |
| 2008 | -0.23 |
| 2009 | 4.24 |
| 2010 | 2.81 |
| 2011 | 1.11 |
| 2012 | 2.73 |
| 2013 | 4.63 |
| 2014 | 5.05 |
| 2015 | 6.85 |
| 2016 | 6.66 |
| 2017 | 4.75 |
| 2018 | 4.44 |
| 2019 | 2.79 |
| 2020 | 3.68 |
Classification
Topic: Economic Policy & Debt Indicators
Sub-Topic: National accounts
