Exports from South Korea increased 11.4% from a year earlier to USD 48 billion in January of 2021, after a 12.7% jump in the previous month, above market consensus of 9.8% rise, a preliminary estimate showed. It was the third straight month of increase in exports, as global demand gradually recovers. Exports of chips surged by 21.7%, while those of displays and mobile devices also jumping 32.3% and 58%, respectively. Also, exports of automobile jumped 40.2%, marking the sharpest growth since September 2017, driven by strong demand for sports utility vehicles and eco-friendly models. Meanwhile, exports of bio-health products soared 66.5%, while those of petrochemicals products rose 8.6%, marking the first growth in more than two years. By contrast, outbound shipment of petroleum goods slumped 46% from a year earlier. Among key trade partners, exports surged to the US (46.1%), China (22%), and the EU (23.9%). Conversely, exports to the ASEAN countries plunged 15.2%. source: Ministry of Trade, Industry & Energy (MOTIE)
Exports in South Korea averaged 15347.01 USD Million from 1966 until 2020, reaching an all time high of 55115.24 USD Million in September of 2017 and a record low of 14.75 USD Million in January of 1966. This page provides the latest reported value for - South Korea Exports - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. South Korea Exports - data, historical chart, forecasts and calendar of releases - was last updated on February of 2021.
Exports in South Korea is expected to be 47997.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Exports in South Korea to stand at 51700.00 in 12 months time. In the long-term, the South Korea Exports is projected to trend around 51700.00 USD Million in 2022, according to our econometric models.