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

Travel services (% of service exports, BoP) in Korea was 8.63 as of 2021. Its highest value over the past 45 years was 33.62 in 1989, while its lowest value was 7.00 in 1982.

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 18.01
1977 13.29
1978 10.05
1979 7.42
1980 7.35
1981 7.28
1982 7.00
1983 8.69
1984 9.69
1985 13.19
1986 24.18
1987 25.85
1988 33.36
1989 33.62
1990 29.29
1991 25.50
1992 22.85
1993 21.06
1994 18.51
1995 21.09
1996 19.54
1997 16.75
1998 25.18
1999 24.23
2000 20.99
2001 20.73
2002 19.12
2003 14.97
2004 13.39
2005 11.47
2006 10.03
2007 8.55
2008 10.69
2009 13.47
2010 12.37
2011 13.65
2012 12.87
2013 13.93
2014 15.60
2015 15.18
2016 17.81
2017 14.90
2018 17.91
2019 20.10
2020 11.47
2021 8.63

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