Korea - Merchandise imports from low- and middle-income economies outside region (% of total merchandise imports)

Merchandise imports from low- and middle-income economies outside region (% of total merchandise imports) in Korea was 43.12 as of 2020. Its highest value over the past 60 years was 43.12 in 2020, while its lowest value was 2.92 in 1964.

Definition: Merchandise imports from low- and middle-income economies outside region are the sum of merchandise imports by the reporting economy from other low- and middle-income economies in other World Bank regions according to the World Bank classification of economies. Data are expressed as a percentage of total merchandise imports by the economy. Data are computed only if at least half of the economies in the partner country group had non-missing data.

Source: World Bank staff estimates based data from International Monetary Fund's Direction of Trade database.

See also:

Year Value
1960 4.33
1961 3.50
1962 3.77
1963 3.02
1964 2.92
1965 3.37
1966 8.15
1967 6.06
1968 8.51
1969 8.19
1970 8.82
1971 7.94
1972 6.33
1973 8.99
1974 6.67
1975 5.79
1976 9.31
1977 9.61
1978 7.66
1979 10.35
1980 9.14
1981 9.05
1982 12.81
1983 12.49
1984 13.19
1985 14.65
1986 10.34
1987 9.65
1988 9.25
1989 9.20
1990 8.89
1991 16.36
1992 16.86
1993 17.87
1994 18.93
1995 18.73
1996 19.29
1997 22.51
1998 22.49
1999 24.42
2000 24.75
2001 26.17
2002 27.33
2003 27.01
2004 28.76
2005 29.84
2006 31.79
2007 34.81
2008 35.13
2009 34.93
2010 35.79
2011 36.86
2012 35.44
2013 35.42
2014 36.76
2015 39.40
2016 40.60
2017 41.13
2018 41.61
2019 42.89
2020 43.12

Development Relevance: Although global integration has increased, low- and middle-income economies still face trade barriers when accessing other markets.

Limitations and Exceptions: Data on exports and imports are from the International Monetary Fund's (IMF) Direction of Trade database and should be broadly consistent with data from other sources, such as the United Nations Statistics Division's Commodity Trade (Comtrade) database. All high-income economies and major low- and middle-income economies report trade data to the IMF on a timely basis, covering about 85 percent of trade for recent years. Trade data for less timely reporters and for countries that do not report are estimated using reports of trading partner countries. Therefore, data on trade between developing and high-income economies should be generally complete. But trade flows between many low- and middle-income economies - particularly those in Sub-Saharan Africa - are not well recorded, and the value of trade among low- and middle-income economies may be understated.

Aggregation method: Weighted average

Periodicity: Annual

Classification

Topic: Private Sector & Trade Indicators

Sub-Topic: Imports