Korea - Merchandise exports to high-income economies (% of total merchandise exports)

Merchandise exports to high-income economies (% of total merchandise exports) in Korea was 46.54 as of 2020. Its highest value over the past 60 years was 98.95 in 1961, while its lowest value was 46.12 in 2019.

Definition: Merchandise exports to high-income economies are the sum of merchandise exports from the reporting economy to high-income economies according to the World Bank classification of economies. Data are expressed as a percentage of total merchandise exports 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 94.64
1961 98.95
1962 86.93
1963 77.48
1964 87.89
1965 81.97
1966 85.55
1967 89.64
1968 92.55
1969 91.86
1970 92.00
1971 91.00
1972 91.07
1973 91.63
1974 89.35
1975 84.55
1976 90.42
1977 89.91
1978 88.86
1979 87.37
1980 80.77
1981 79.65
1982 81.19
1983 83.65
1984 83.97
1985 84.44
1986 88.06
1987 90.01
1988 89.38
1989 87.53
1990 80.13
1991 78.85
1992 76.16
1993 68.77
1994 68.33
1995 69.15
1996 63.93
1997 62.99
1998 69.24
1999 70.60
2000 70.48
2001 67.57
2002 65.71
2003 62.44
2004 61.02
2005 58.12
2006 57.32
2007 54.81
2008 52.78
2009 50.16
2010 48.45
2011 48.44
2012 48.45
2013 46.35
2014 47.21
2015 47.84
2016 47.41
2017 46.36
2018 46.27
2019 46.12
2020 46.54

Development Relevance: Low- and middle-income economies are an increasingly important part of the global trading system. Trade between high-income economies and low- and middle-income economies has grown faster than trade between high-income economies. This increased trade benefits both producers and consumers in developing and high-income economies. At the regional level most exports from low- and middle-income economies are to high-income economies, but the share of intraregional trade is increasing. Geographic patterns of trade vary widely by country and commodity. Larger shares of exports from oil- and resource-rich economies are to high-income economies.

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: Exports