Remittance inflows to GDP in South Korea
South Korea: Remittance inflows to GDP was 0.5% in 2020. ▼ Falling
Remittance inflows to GDP in South Korea, 1976–2020
Source: World Development Indicators (WDI), World Bank. Measured in %.
Analysis
In 2020, remittance inflows to gdp in South Korea stood at 0.5%.
The figure is up 4.6% on the previous year and down 11.3% over ten years.
Over the whole period, remittance inflows to gdp in South Korea peaked at 1.5% in 1986 and was at its lowest, 0.2%, in 1979.
South Korea ranks 144th of 195 countries on this measure, in the middle of the range.
The long-run direction has been consistently falling across the 45 years of available data.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 0.2% | 0.2% | 0.3% | 4 |
| 1980s | 1.1% | 0.9% | 1.5% | 10 |
| 1990s | 0.8% | 0.5% | 1.3% | 10 |
| 2000s | 0.7% | 0.4% | 0.8% | 10 |
| 2010s | 0.5% | 0.4% | 0.5% | 10 |
| 2020s | 0.5% | 0.5% | 0.5% | 1 |
Countries ranked near South Korea
More financial sector data for South Korea
- Domestic credit to private sector by banks 160.3% (2024)
- Total reserves in months of imports 6.46 (2025)
- Net domestic credit 5,011.74 trillion current LCU (2024)
- Net foreign assets 627.85 trillion current LCU (2024)
- Monetary Sector credit to private sector 160.3% (2024)
- Broad money 162.7% (2024)
- Claims on central government, etc. 3.4% (2024)
- Domestic credit to private sector 160.3% (2024)
- Official exchange rate 1,422 LCU per US$, period average (2025)
- Net migration 65,731 (2025)
Frequently asked questions
- What is remittance inflows to gdp in South Korea?
- Remittance inflows to gdp in South Korea was 0.5% in 2020, according to World Development Indicators (WDI), World Bank.
- What is the highest remittance inflows to gdp recorded in South Korea?
- The highest recorded value was 1.5% in 1986.
- What is the lowest remittance inflows to gdp recorded in South Korea?
- The lowest recorded value was 0.2% in 1979.
- How does South Korea rank for remittance inflows to gdp?
- South Korea ranks 144th out of 195 countries with data for 2020.
- Is remittance inflows to gdp rising or falling in South Korea?
- Over the last ten years it is down 11.3%. The long-run trend across the full record is falling.
- Where does this South Korea data come from?
- The figures come from World Development Indicators (WDI), World Bank, published as part of Remittance inflows to GDP (%). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 45 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Workers' remittances and compensation of employees comprise current transfers by migrant workers and wages and salaries earned by nonresident workers. Data are the sum of three items defined in the fifth edition of the IMF's Balance of Payments Manual: workers' remittances, compensation of employees, and migrants' transfers. Remittances are classified as current private transfers from migrant workers resident in the host country for more than a year, irrespective of their immigration status, to recipients in their country of origin. Migrants' transfers are defined as the net worth of migrants who are expected to remain in the host country for more than one year that is transferred from one country to another at the time of migration. Compensation of employees is the income of migrants who have lived in the host country for less than a year.