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South Korea: Trade Profile
October 2010
Korea, Republic of
             
BASIC INDICATORS
Population (thousands, 2009) 48 747Rank in world trade, 2009ExportsImports
GDP (million current US$, 2009) 832 512Merchandise 912
GDP (million current PPP US$, 2009)1 324 383excluding intra-EU trade57
Current account balance (million US$, 2009) 42 667Commercial services1914
Trade per capita (US$, 2007-2009) 18 697excluding intra-EU trade108
Trade to GDP ratio (2007-2009)  96.9
Annual percentage change
2009  2000-200920082009
Real GDP (2000=100)  141420
Exports of goods and services (volume, 2000=100)  a  212106...
Imports of goods and services (volume, 2000=100)  a  18784...
             
TRADE POLICY
WTO accession1 January 1995Contribution to WTO budget (%, 2010)2.639
Trade Policy Review8, 10 October 2008Import duties collected (%, 2006-2008)
GPA accession 1 January 1997in total tax revenue4.9
Tariffs and duty free importsto total imports1.7
Tariff binding coverage (%)   94.6Number of notifications to WTO and measures in force 
MFN tariffsFinal boundApplied 2009Outstanding notifications in WTO Central Registry  21
Simple average of import dutiesGoods RTAs - services EIAs notified to WTO8 - 5
All goods  16.6  12.1Anti-dumping (30 June 2009)43
Agricultural goods (AOA)  56.1  48.6Countervailing duties (30 June 2009)...
Non-agricultural goods  10.2  6.6Safeguards (19 October 2009)  0
Non ad-valorem duties (% total tariff lines)  0.7  0.4Number of disputes (complainant - defendant) 
MFN duty free imports (%, 2008)Requests for consultation14 - 14
in agricultural goods (AOA)  4.8Original panel / Appellate Body (AB) reports9 - 8
in non-agricultural goods  38.8Compliance panel / AB reports (Article 21.5 DSU)0 - 1
Services sectors with GATS commitments  98Arbitration awards (Article 22.6 DSU)0 - 1
             
MERCHANDISE TRADE ValueAnnual percentage change
2009  2000-200920082009
Merchandise exports, f.o.b. (million US$) 363 534914-14
Merchandise imports, c.i.f. (million US$) 323 085822-26
2009  2009
Share in world total exports   2.91Share in world total imports 2.55
Breakdown in economy's total exportsBreakdown in economy's total imports
  By main commodity group (ITS)  By main commodity group (ITS)
Agricultural products  2.0Agricultural products6.5
Fuels and mining products  8.4Fuels and mining products35.5
Manufactures  88.7Manufactures57.6
  By main destination  By main origin
1. China  23.91. China  16.8
2. European Union (27)  12.82. Japan  15.3
3. United States  10.43. European Union (27)  10.0
4. Japan  6.04. United States  9.0
5. Hong Kong, China  5.45. Saudi Arabia  6.1
             
COMMERCIAL SERVICES TRADE ValueAnnual percentage change
2009  2000-2009 20082009
Commercial services exports (million US$) 57 304  823-25
Commercial services imports (million US$) 74 978  1013-19
2009  2009
Share in world total exports  1.71  Share in world total imports2.39
Breakdown in economy's total exportsBreakdown in economy's total imports
  By principal services item  By principal services item
Transportation  50.5  Transportation31.2
Travel  16.5  Travel17.8
Other commercial services  33.0  Other commercial services51.1
             
INDUSTRIAL PROPERTY 
Patent grants by patent office, 2008Trademark registrations by office, 2008
ResidentsNon-residents Total Direct residentsDirect non-residentsMadrid Total 
 61 115 22 408 83 523 50 927 7 902 3 614 62 443
             
a  Refers to 2008 values and to the average annual percentage change for 2000-2008.
Source WTO
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