Exports from South Korea tumbled 13.6 percent year-on-year to USD 44.20 billion in August 2019, 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. Exports in South Korea averaged 14651.41 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 49200.00 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 43900.00 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.