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

Merchandise exports to low- and middle-income economies outside region (% of total merchandise exports) in Korea was 53.43 as of 2020. Its highest value over the past 60 years was 53.84 in 2019, while its lowest value was 0.32 in 1960.

Definition: Merchandise exports to low- and middle-income economies outside region are the sum of merchandise exports from the reporting economy to 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 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 0.32
1962 1.27
1963 6.24
1964 9.54
1965 14.29
1966 9.43
1967 7.36
1968 5.65
1969 5.65
1970 4.86
1971 5.92
1972 4.97
1973 3.84
1974 4.65
1975 5.66
1976 7.67
1977 8.73
1978 9.92
1979 11.20
1980 14.57
1981 14.61
1982 13.02
1983 11.33
1984 12.12
1985 11.19
1986 8.43
1987 7.47
1988 7.95
1989 9.42
1990 10.83
1991 17.66
1992 20.38
1993 25.76
1994 25.61
1995 25.25
1996 29.30
1997 31.15
1998 30.22
1999 28.70
2000 28.84
2001 31.35
2002 33.62
2003 36.76
2004 38.38
2005 41.07
2006 41.85
2007 44.07
2008 45.83
2009 46.59
2010 49.57
2011 49.89
2012 50.51
2013 52.10
2014 51.10
2015 50.51
2016 51.06
2017 53.49
2018 53.68
2019 53.84
2020 53.43

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: Exports