Exports from South Korea declined by 13.5 pct year-on-year to USD 44.18 billion in June 2019, worse than market consensus of a 12 pct drop and faster than an upwardly revised 9.5 pct fall in May. It marked the seventh straight month of contraction in overseas sales, amid weakening global demand and the prolonged Sino-US trade row. Sales of semiconductors tumbled 25.5 pct, due to a fall in prices of memory chips, coupled with the weaker demand for smartphone around the world. In addition, exports of petrochemicals shrank 24.5 pct. On the other hand, sales of ships surged 46.4 pct. Also, exports of cars rose 8.1 pct Exports to China, the largest trading partner for Asia's fourth-largest economy, slumped 24.1 pct, the steepest yearly fall since May 2009, when exports dropped by 25.6 pct. Also, sales to the EU declined 3.1 pct, due to the sluggish economy of Germany. In addition, outbound shipments to the US decreased 2.5 pct, led by lower sales of chips and mobile devices Exports in South Korea averaged 14510.69 USD Million from 1966 until 2019, 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.

Exports in South Korea is expected to be 50300.00 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 49000.00 in 12 months time. In the long-term, the South Korea Exports is projected to trend around 51700.00 USD Million in 2020, according to our econometric models.

South Korea Exports
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Calendar GMT Actual Previous Consensus TEForecast
2019-04-01 12:00 AM Exports YoY Mar -8.2% -11.4% -8.7%
2019-05-01 12:00 AM Exports YoY Apr -2% -8.2% -5%
2019-06-01 12:00 AM Exports YoY May -9.4% -2% -5.6%
2019-07-01 12:00 AM Exports YoY Jun -13.5% -9.5% -12%
2019-08-01 12:00 AM Exports YoY Jul -13.5%
2019-09-01 12:00 AM Exports YoY Aug
2019-10-01 12:00 AM Exports YoY Sep


South Korea Trade Last Previous Highest Lowest Unit
Balance of Trade 4168.00 2248.83 13419.36 -4043.46 USD Million [+]
Current Account 4949.40 -664.80 12409.70 -3845.00 USD Million [+]
Current Account to GDP 4.70 4.90 10.70 -10.50 percent [+]
Imports 40010.00 43636.00 48480.62 38.61 USD Million [+]
Exports 44180.00 45907.00 55115.24 14.75 USD Million [+]
External Debt 440584.60 440598.50 452718.00 80766.40 USD Million [+]
Terms of Trade 90.80 90.50 228.10 82.90 Index Points [+]
Foreign Direct Investment 6704915.00 3173570.00 10820073.00 0.00 USD Thousand [+]
Capital Flows 4591.40 363.00 12350.90 -3406.90 USD Million [+]
Tourism Revenues 1562300.00 1688300.00 1765400.00 326500.00 USD Million [+]
Tourist Arrivals 1485684.00 1635066.00 1703495.00 213006.00 [+]
Gold Reserves 104.40 104.40 104.44 13.00 Tonnes [+]
Terrorism Index 0.29 0.61 2.62 0.00 [+]
Weapons Sales 1083.00 751.00 1083.00 7.00 USD Million [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category



South Korea Exports

South Korea has an export oriented economy and its exports accounts for more than 50% of GDP. The country exports mainly machinery and transport equipment (59 percent of total exports) such as: electrical machinery, apparatus, appliances and electrical parts (18 percent); road vehicles (13 percent); telecommunications, sound recording; reproducing apparatus and equipment (8 percent). Other exports include: petroleum, petroleum products, related materials (6 percent); iron, steel (4 percent) and plastics (4 percent). Major export partners are China (26 percent of total exports), the United States (13 percent) Hong Kong (6 percent), Vietnam, Japan (5 percent each) and Singapore (3 percent). Others include: India, Taiwan, Mexico, Australia, Saudi Arabia and Philippines. 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 - actual data, historical chart and calendar of releases - was last updated on July of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
44180.00 45907.00 55115.24 14.75 1966 - 2019 USD Million Monthly




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