Exports in South Korea increased to 45716 USD Million in December from 44053.33 USD Million in November of 2019.

Exports in South Korea averaged 14840.06 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. 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. source: Ministry of Trade, Industry & Energy (MOTIE)

Exports in South Korea is expected to be 45000.00 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 2020, according to our econometric models.


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South Korea Exports

Actual Previous Highest Lowest Dates Unit Frequency
45716.00 44053.33 55115.24 14.75 1966 - 2019 USD Million Monthly

Calendar GMT Actual Previous Consensus TEForecast
2019-10-01 12:00 AM Sep -11.7% -13.8% -11.2% -15%
2019-11-01 12:00 AM Oct -14.7% -11.7% -13.8%
2019-12-01 12:00 AM Nov -14.3% -14.8% -10.2%
2020-01-01 12:00 AM Dec -5.2% -14.4% -6% -6.6%


News Stream
2019-10-01
South Korea Exports Fall for 10th Consecutive Month
Exports from South Korea plunged 11.7 percent year-on-year to USD 44.70 billion in September 2019, worse than market expectations of 11.2 percent fall and following an upwardly revised 13.8 percent drop in the prior month. This marked the tenth straight month of yearly decline in overseas sales, amid deteriorating external conditions, including the US-China trade dispute. Exports of semiconductors and petrochemicals decreased while those of automobiles, ships, and bio-health products increased. Among major trade partners, exports to China went down 21.8 percent; those to the US dropped 2.2 percent; and to Japan fell 5.9 percent. Conversely, exports to the Commonwealth of Independent States surged 41.3 percent.

2019-09-01
South Korea Exports Fall for 9th Month
Exports from South Korea tumbled 13.6 percent year-on-year to USD 44.20 billion in August, in line with market expectations and following a 11 percent fall in the prior month. This marked the ninth straight month of yearly decline in overseas sales, amid deteriorating external conditions, including the US-China trade dispute and Japan’s tighter restrictions on exports to South Korea. Exports of semiconductors, petrochemicals, and petroleum products decreased while those of secondary batteries, agricultural products and fisheries, and cosmetics increased. Among major trade partners, exports to China went down 21.3 percent and those to the Central and South America inched down 18.3 percent. Meanwhile, exports to the CIS gained 8.8 percent and those to ASEAN were up 1.9 percent.

2019-08-01
South Korea Exports Tumble 11%
Exports from South Korea plunged 11 percent from a year earlier to USD 46.14 billion in July 2019, the eighth consecutive month of declines and largely in line with market forecasts of 11.3 percent drop. The year-long China-US trade war and recent Japan's export restrictions hurt demand for Korean goods, alongside a slowdown in the semiconductor sector and falling chip prices, and the petrochemical and petroleum product industries that are under pressure due to the stagnant recovery of oil prices. Shipments of semiconductors, petrochemicals, and petroleum products slumped, while those of automobiles, auto parts, and home appliances increased. Among major trade partners, decreases were seen in exports to China and the US, but increases were experienced in shipments to the EU, ASEAN, and CIS countries.

2019-07-01
South Korea Exports Drop the Most in Over 3 Years
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

2019-06-01
South Korea Exports Fall More than Expected
Exports from South Korea declined by 9.4 pct year-on-year to USD 45.91 billion in May 2019, worse than market consensus of a 5.6 pct drop and much faster than a 2.0 pct fall in April. It marked the sixth straight month of contraction in overseas sales, amid weakening global demand and the prolonged Sino-US trade row well as Brexit uncertainties. Sales of semiconductors tumbled 30.5 pct. In addition, exports of petrochemicals shrank 16.2 pct. On the other hand, sales of ships jumped 44.5 pct. At the same time, shipments of machinery grew 5 pct, with auto exports increasing 13.6 pct. Also, exports rose for rechargeable batteries, electric cars, and organic light-emitting diode (OLED) displays. Exports to China, the largest trading partner for Asia's fourth-largest economy, nosedived 20 pct, the steepest yearly fall since January 2016. Also, sales to the EU fell 12.6 pct. In contrast, outbound shipments to the US advanced 6 pct, led by higher sales of automobiles and home appliances.

2019-04-01
South Korea Exports Fall 8.2% YoY in March
Exports from South Korea declined by 8.2 percent year-on-year to USD 47.11 billion in March 2019, following an upwardly revised 11.4 percent fall in February which was the steepest fall in three years, and compared with market consensus of a 8.7 percent drop. The decrease in last month’s exports was mostly due to combined effects of external risks and cyclical factors, including slowing global economy, trade dispute between US and China and growing protectionism. Sales of memory chips fell 16.6 pct, as global demand for smartphone slowed on low seasonal demand. Also, exports dropped for petrochemicals (-10.7 pct). In contrast, sales of ships rose 5.4 percent, namely drill ships and liquefied natural gas carriers. Exports to China, South Korea's top trading partner, shrank 15.5 pct, and to Japan declined 12.8 pct, due to declining demand of semiconductors and steel. By contrast, exports to the US grew 4 pct, mainly driven by automobile, machinery and petrochemical products.


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.

South Korea Trade Last Previous Highest Lowest Unit
Balance of Trade 2017.00 3336.48 13419.36 -4043.46 USD Million [+]
Current Account 5974.80 7827.20 12409.70 -3845.00 USD Million [+]
Current Account to GDP 4.70 4.90 10.70 -10.50 percent [+]
Imports 43699.00 40716.86 48480.62 38.61 USD Million [+]
Exports 45716.00 44053.33 55115.24 14.75 USD Million [+]
External Debt 458199.90 462061.90 462061.90 80766.40 USD Million [+]
Terms of Trade 90.80 91.40 228.10 82.90 points [+]
Foreign Direct Investment 9844064.00 3612508.00 10820073.00 0.00 USD Thousand [+]
Capital Flows 5336.40 10227.60 12350.90 -3406.90 USD Million [+]
Tourism Revenues 1627000.00 1788400.00 1788400.00 326500.00 USD Million [+]
Tourist Arrivals 1456429.00 1656195.00 1703495.00 213006.00 [+]
Gold Reserves 104.45 104.40 104.45 13.00 Tonnes [+]
Weapons Sales 1083.00 751.00 1083.00 7.00 USD Million [+]
Terrorism Index 0.30 0.29 2.62 0.00 [+]

South Korea Exports by Country Last Previous
China 12303181.00 11891666.00 USD THO Dec/19
United States 6417224.00 6269761.00 USD THO Dec/19
European Union 4361875.00 3943779.00 USD THO Dec/19
Vietnam 3877605.00 4050310.00 USD THO Dec/19
Hong Kong 2610209.00 2455167.00 USD THO Dec/19
Japan 2290093.00 2409558.00 USD THO Dec/19
Taiwan 1442660.00 1115384.00 USD THO Dec/19
Singapore 1097922.00 793763.00 USD THO Dec/19
India 1080082.00 1040818.00 USD THO Dec/19
Mexico 811324.00 766445.00 USD THO Dec/19
Germany 788854.00 665814.00 USD THO Dec/19
Malaysia 706067.00 599495.00 USD THO Dec/19
Philippines 659661.00 641483.00 USD THO Dec/19
Australia 619019.00 662137.00 USD THO Dec/19
Poland 604883.00 460753.00 USD THO Dec/19
Thailand 593671.00 671972.00 USD THO Dec/19
Russia 572244.00 594812.00 USD THO Dec/19
Indonesia 566639.00 612795.00 USD THO Dec/19
Turkey 456955.00 410094.00 USD THO Dec/19
Canada 421983.00 393616.00 USD THO Dec/19
South Korea Exports by Category Last Previous
Heavy Industry Products 38167000.00 36500000.00 USD THO Dec/19
Semi Conductor 7281000.00 7391000.00 USD THO Dec/19
Crude Materials & Fuels 3976000.00 4088000.00 USD THO Dec/19
Metal Goods 3785000.00 3449000.00 USD THO Dec/19
Kcs - Car 3784000.00 3909000.00 USD THO Dec/19
Kcs - Petroleum Chemical 3608000.00 3214000.00 USD THO Dec/19
Passenger Car 3589000.00 3714000.00 USD THO Dec/19
Petroleum & Derivatives 3308000.00 3492000.00 USD THO Dec/19
Kcs - Petroleum Products 3231000.00 3447000.00 USD THO Dec/19
Information & Communications Equipment 3001000.00 3016000.00 USD THO Dec/19
Light Industry Products 2825000.00 2751000.00 USD THO Dec/19
Kcs - Iron and Steel Products 2674000.00 2410000.00 USD THO Dec/19
Kcs - Auto Parts 1861000.00 1769000.00 USD THO Dec/19
Kcs - Ship Class 1351000.00 787000.00 USD THO Dec/19
Ship & Boat 1281000.00 741000.00 USD THO Dec/19
Kcs - Fiber 1085000.00 1089000.00 USD THO Dec/19
Kcs - Wireless Communication Machine 1062000.00 1209000.00 USD THO Dec/19
Heavy Industry Products - Computer 984000.00 936000.00 USD THO Dec/19
Kcs - Computer 972000.00 946000.00 USD THO Dec/19
Food & Direct Consumer Goods 747000.00 715000.00 USD THO Dec/19

United Nations Comtrade Database
Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category