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Last Published: 11/21/2017


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PROFILE

  • Population in March 2017 (Millions): 51.4
  • Capital: Seoul
  • Government: Republic
GDP, 2014, 2015, 2016 - Korea
ECONOMY201420152016
Nominal GDP (PPP - Billions US$)1,7071,7501,816
GDP per head (Current US$)28,188.027,402.027,733.0
Real GDP Growth Rate (% change)3.32.62.7
Real GDP Growth Rate Per Capita (% change)2.92.22.3
Consumer Prices (% change)1.30.71.0
Unemployment (% of labor force)3.53.63.7
     Source: The Economist Intelligence Unit
 
TRADE
Foreign Merchandise Trade (US$ millions)
FOREIGN MERCHANDISE TRADE (US$ Millions)201420152016
Korea, Republic of, Exports to World572,665526,900495,000
Korea, Republic of, Imports from World525,515436,500406,000
U.S. Exports to Korea, Republic of44,62543,44642,266
U.S. Imports from Korea, Republic of69,60671,82769,932
U.S. Trade Balance with Korea, Republic of-25,053-28,313-27,666
Position in U.S. Trade:   
Rank of Korea, Republic of, in U.S. Exports777
Rank of Korea, Republic of, in U.S. Imports666
Korea, Republic of, Share (%) of U.S. Exports2.72.92.9
Korea, Republic of, Share (%) of U.S. Imports3.03.23.2
 
U.S. Exports/Imports Korea 2016
Principal U.S. Exports to Korea, Republic of, in 2016:Principal U.S. Imports from Korea, Republic of, in 2016:
1. Transportation Equipment (19.5%)1. Transportation Equipment (33.4%)
2. Computer & Electronic Products (14.6%)2. Computer & Electronic Products (22.2%)
3. Chemicals (14.3%)3. Chemicals (7.6%)
4. Machinery, excl. Electrical (12.4%)4. Machinery, excl. Electrical (7.4%)
5. Food Manufactures (7.9%)5. Electrical Equipment (5.9%)
 
DOING BUSINESS/ECONOMIC FREEDOM RANKINGS
  • World Bank Ease of Doing Business Ranking 2016: 5 of 190
  • Heritage/WSJ 2017 Index of Economic Freedom Ranking: 23 of 180
  • WEF World Competitiveness Ranking 2016 - 2017: 26 of 138

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South Korea Trade Development and Promotion