Services balance (credit less debit), Net (credits less debits) in Korea
Korea: Services balance (credit less debit), Net (credits less debits) was -23.70 billion in 2024. ◆ Volatile
Services balance (credit less debit), Net (credits less debits) in Korea, 2005–2024
Source: International Monetary Fund.
Analysis
In 2024, services balance (credit less debit), net (credits less debits) in Korea stood at -23.70 billion.
Compared with earlier readings it is up 11.6% on the previous year and down 620.4% over ten years.
Over the whole period, services balance (credit less debit), net (credits less debits) in Korea peaked at -3.29 billion in 2014 and was at its lowest, -36.73 billion, in 2017.
That places Korea 191st out of 197 countries with data for 2024, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Services balance (credit less debit), Net (credits less debits) in Korea, year by year
| Year | Value | Change |
|---|---|---|
| 2005 | -8.98 billion | — |
| 2006 | -13.04 billion | +45.1% |
| 2007 | -13.04 billion | -0.0% |
| 2008 | -6.31 billion | -51.6% |
| 2009 | -9.34 billion | +48.0% |
| 2010 | -13.97 billion | +49.6% |
| 2011 | -12.06 billion | -13.7% |
| 2012 | -5.06 billion | -58.1% |
| 2013 | -6.33 billion | +25.1% |
| 2014 | -3.29 billion | -48.0% |
| 2015 | -14.63 billion | +344.5% |
| 2016 | -17.34 billion | +18.5% |
| 2017 | -36.73 billion | +111.9% |
| 2018 | -29.37 billion | -20.0% |
| 2019 | -26.85 billion | -8.6% |
| 2020 | -14.67 billion | -45.4% |
| 2021 | -5.29 billion | -64.0% |
| 2022 | -7.25 billion | +37.2% |
| 2023 | -26.82 billion | +269.8% |
| 2024 | -23.70 billion | -11.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | -10.14 billion | -13.04 billion | -6.31 billion | 5 |
| 2010s | -16.56 billion | -36.73 billion | -3.29 billion | 10 |
| 2020s | -15.55 billion | -26.82 billion | -5.29 billion | 5 |
Countries ranked near Korea
More financial sector data for Korea
- Reserves excluding gold, foreign exchange (SDR), annual growth rate -2.07 % change on previous year (2025)
- Reserves excluding gold, foreign exchange (SDR), per unit of GDP 0.1572 SDR per US$ of GDP (2025)
- Reserves excluding gold, foreign exchange (SDR), per capita 5,693 SDR per person (2025)
- Reserves excluding gold (SDR), annual growth rate -1.88 % change on previous year (2025)
- Reserves excluding gold (SDR), per capita 5,961 SDR per person (2025)
- Total reserves (gold at market value) (SDR), annual growth rate -0.594 % change on previous year (2025)
- Total reserves (gold at market value) (SDR), per capita 6,168 SDR per person (2025)
- Total reserves (gold at national valuation) (SDR), annual growth rate -1.91 % change on previous year (2025)
- Total reserves (gold at national valuation) (SDR), per capita 6,028 SDR per person (2025)
- Total reserves (gold at national valuation) 311.57 billion SDR (2025)
Frequently asked questions
- What is services balance (credit less debit), net (credits less debits) in Korea?
- Services balance (credit less debit), net (credits less debits) in Korea was -23.70 billion in 2024, according to International Monetary Fund.
- What is the highest services balance (credit less debit), net (credits less debits) recorded in Korea?
- The highest recorded value was -3.29 billion in 2014.
- What is the lowest services balance (credit less debit), net (credits less debits) recorded in Korea?
- The lowest recorded value was -36.73 billion in 2017.
- How does Korea rank for services balance (credit less debit), net (credits less debits)?
- Korea ranks 191st out of 197 countries with data for 2024.
- Is services balance (credit less debit), net (credits less debits) rising or falling in Korea?
- Over the last ten years it is down 620.4%. The long-run trend across the full record is volatile.
- Where does this Korea data come from?
- The figures come from International Monetary Fund, published as part of Services balance (credit less debit), Net (credits less debits) (US dollar). Statizoid updates them automatically from the source API.
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About this data
The World and Country Group Aggregates (historically called BOPSY) is an annual publication, released each November, of major balance of payments and international investment position components for countries, country groups, and the world.