Merchandise imports by the reporting economy in South Korea
South Korea: Merchandise imports by the reporting economy was 640.41 billion current US$ in 2023. ◆ Volatile
Latest (2023)
640.41 billion current US$
Change on year
down 11.7%
World rank
10th
of 206 countries
All-time high
724.92 billion current US$
in 2022
All-time low
268.60 million current US$
in 1960
Years of data
64
1960–2023
Merchandise imports by the reporting economy in South Korea, 1960–2023
Source: Staff estimates, World Bank (WB). Measured in current US$.
Analysis
The most recent figure for merchandise imports by the reporting economy in South Korea is 640.41 billion current US$, measured in 2023.
Compared with earlier readings it is down 11.7% on the previous year and up 24.3% over ten years.
Over the whole period, merchandise imports by the reporting economy in South Korea peaked at 724.92 billion current US$ in 2022 and was at its lowest, 268.60 million current US$, in 1960.
That places South Korea 10th out of 206 countries with data for 2023, putting it in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Merchandise imports by the reporting economy in South Korea, year by year
| Year | current US$ | Change |
|---|---|---|
| 1960 | 268.60 million current US$ | — |
| 1961 | 287.90 million current US$ | +7.2% |
| 1962 | 399.20 million current US$ | +38.7% |
| 1963 | 537.10 million current US$ | +34.5% |
| 1964 | 383.10 million current US$ | -28.7% |
| 1965 | 429.30 million current US$ | +12.1% |
| 1966 | 697.00 million current US$ | +62.4% |
| 1967 | 962.50 million current US$ | +38.1% |
| 1968 | 1.45 billion current US$ | +50.7% |
| 1969 | 1.80 billion current US$ | +24.2% |
| 1970 | 1.96 billion current US$ | +8.5% |
| 1971 | 2.35 billion current US$ | +20.3% |
| 1972 | 2.45 billion current US$ | +4.3% |
| 1973 | 4.15 billion current US$ | +69.1% |
| 1974 | 6.48 billion current US$ | +56.2% |
| 1975 | 7.01 billion current US$ | +8.1% |
| 1976 | 8.60 billion current US$ | +22.7% |
| 1977 | 10.75 billion current US$ | +25.0% |
| 1978 | 14.85 billion current US$ | +38.2% |
| 1979 | 19.93 billion current US$ | +34.2% |
| 1980 | 21.26 billion current US$ | +6.7% |
| 1981 | 24.80 billion current US$ | +16.7% |
| 1982 | 22.96 billion current US$ | -7.4% |
| 1983 | 24.81 billion current US$ | +8.0% |
| 1984 | 28.74 billion current US$ | +15.8% |
| 1985 | 28.80 billion current US$ | +0.2% |
| 1986 | 29.83 billion current US$ | +3.6% |
| 1987 | 38.55 billion current US$ | +29.2% |
| 1988 | 48.35 billion current US$ | +25.4% |
| 1989 | 56.07 billion current US$ | +16.0% |
| 1990 | 64.67 billion current US$ | +15.3% |
| 1991 | 80.15 billion current US$ | +23.9% |
| 1992 | 80.24 billion current US$ | +0.1% |
| 1993 | 83.07 billion current US$ | +3.5% |
| 1994 | 101.08 billion current US$ | +21.7% |
| 1995 | 133.38 billion current US$ | +32.0% |
| 1996 | 148.16 billion current US$ | +11.1% |
| 1997 | 143.84 billion current US$ | -2.9% |
| 1998 | 93.26 billion current US$ | -35.2% |
| 1999 | 119.64 billion current US$ | +28.3% |
| 2000 | 160.34 billion current US$ | +34.0% |
| 2001 | 140.96 billion current US$ | -12.1% |
| 2002 | 151.34 billion current US$ | +7.4% |
| 2003 | 178.79 billion current US$ | +18.1% |
| 2004 | 224.41 billion current US$ | +25.5% |
| 2005 | 261.15 billion current US$ | +16.4% |
| 2006 | 309.26 billion current US$ | +18.4% |
| 2007 | 356.76 billion current US$ | +15.4% |
| 2008 | 435.21 billion current US$ | +22.0% |
| 2009 | 322.96 billion current US$ | -25.8% |
| 2010 | 425.04 billion current US$ | +31.6% |
| 2011 | 524.18 billion current US$ | +23.3% |
| 2012 | 519.38 billion current US$ | -0.9% |
| 2013 | 515.29 billion current US$ | -0.8% |
| 2014 | 525.38 billion current US$ | +2.0% |
| 2015 | 436.12 billion current US$ | -17.0% |
| 2016 | 405.52 billion current US$ | -7.0% |
| 2017 | 471.76 billion current US$ | +16.3% |
| 2018 | 532.51 billion current US$ | +12.9% |
| 2019 | 500.42 billion current US$ | -6.0% |
| 2020 | 464.56 billion current US$ | -7.2% |
| 2021 | 611.64 billion current US$ | +31.7% |
| 2022 | 724.92 billion current US$ | +18.5% |
| 2023 | 640.41 billion current US$ | -11.7% |
South Korea compared with similar countries
- South Korea's 640.41 billion current US$ is above the median for high income countries, which is 45.81 billion current US$, 14.0× the median. (74 countries reporting)
- South Korea's 640.41 billion current US$ is above the median for East Asia & Pacific, which is 6.01 billion current US$, 106.6× the median. (36 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 721.78 million current US$ | 268.60 million current US$ | 1.80 billion current US$ | 10 |
| 1970s | 7.85 billion current US$ | 1.96 billion current US$ | 19.93 billion current US$ | 10 |
| 1980s | 32.42 billion current US$ | 21.26 billion current US$ | 56.07 billion current US$ | 10 |
| 1990s | 104.75 billion current US$ | 64.67 billion current US$ | 148.16 billion current US$ | 10 |
| 2000s | 254.12 billion current US$ | 140.96 billion current US$ | 435.21 billion current US$ | 10 |
| 2010s | 485.56 billion current US$ | 405.52 billion current US$ | 532.51 billion current US$ | 10 |
| 2020s | 610.38 billion current US$ | 464.56 billion current US$ | 724.92 billion current US$ | 4 |
Countries ranked near South Korea
More private sector data for South Korea
- Merchandise trade 71.6% (2025)
- Food imports 6.3% (2024)
- Manufactures imports 60.1% (2024)
- Merchandise imports 631.89 billion current US$ (2025)
- Food exports 1.6% (2024)
- Manufactures exports 87.3% (2024)
- Merchandise exports 709.33 billion current US$ (2025)
- Merchandise exports (current US$), per capita 13,724 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.3788 current US$ per US$ of GDP (2025)
- Merchandise exports (current US$), annual growth rate 3.76 % change on previous year (2025)
Frequently asked questions
- What is merchandise imports by the reporting economy in South Korea?
- Merchandise imports by the reporting economy in South Korea was 640.41 billion current US$ in 2023, according to Staff estimates, World Bank (WB).
- What is the highest merchandise imports by the reporting economy recorded in South Korea?
- The highest recorded value was 724.92 billion current US$ in 2022.
- What is the lowest merchandise imports by the reporting economy recorded in South Korea?
- The lowest recorded value was 268.60 million current US$ in 1960.
- How does South Korea rank for merchandise imports by the reporting economy?
- South Korea ranks 10th out of 206 countries with data for 2023.
- Is merchandise imports by the reporting economy rising or falling in South Korea?
- Over the last ten years it is up 24.3%. The long-run trend across the full record is volatile.
- Where does this South Korea data come from?
- The figures come from Staff estimates, World Bank (WB), published as part of Merchandise imports by the reporting economy (current US$). Statizoid updates them automatically from the source API.
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About this data
Merchandise imports by the reporting economy are the total merchandise imports by the reporting economy from the rest of the world, as reported in the IMF's Direction of trade database. Data are in current U.S. dollars.