Exports from South Korea tumbled 10.9 percent from a year earlier to USD 39.2 billion in June 2020, compared with market consensus of a 7.8 percent fall. It was the fourth straight month of decline in exports, as the coronavirus pandemic hit global demand. Sales were sharply down for automobiles (-33.2 percent), due to the weak demand from the US and European markets. Outbound shipment also fell for petrochemicals (-11.8 percent). By contrast, sales jumped for computers (91.5 percent), biohealth products (53 percent), and foodstuffs (11.7 percent). Among major trade partners, exports declined to the US (-8.3 percent), the EU (-17 percent), Japan (-17.8 percent). Conversely, exports to China surged 9.5 percent, the first increase in six months.
Exports in South Korea averaged 15035.15 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 July of 2020. source: Ministry of Trade, Industry & Energy (MOTIE)
Exports in South Korea is expected to be 50000.00 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 50800.00 in 12 months time. In the long-term, the South Korea Exports is projected to trend around 51700.00 USD Million in 2021, according to our econometric models.