Analysis and Studies - Country Analysis
Import/Export Republic of Korea
January 14th 2021
The Republic of Korea is one of the few countries that has successfully transformed itself from a low-income to a high-income economy and a global leader in innovation and technology. Its government’s policies resulted in real gross domestic product (GDP) growth averaging 7.3% annually between 1960 and 2019. (World Bank)
The republic of Korea is the number 12 economy in the world in terms of GDP (current US$), the number 5 in total exports, the number 10 in total imports, the number 34 economy in terms of GDP per capita (current US$) and the number 5 most complex economy according to the Economic Complexity Index (ECI).
As countries around the world work to contain the spread and impact of COVID-19, the Korean government is working to respond to the pandemic using innovative and technology-enabled solutions.
