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.

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South Korea Exports

Actual Previous Highest Lowest Dates Unit Frequency
48000.00 51405.00 55115.24 14.75 1966 - 2021 USD Million Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-11-01 12:00 AM Oct -3.6% 7.6% -4%
2020-12-01 12:00 AM Nov 4% -3.8% 6.8%
2021-01-01 12:00 AM Dec 12.6% 4% 5.6% 5.1%
2021-02-01 12:00 AM Jan 11.4% 12.6% 9.8%


News Stream
South Korea Exports Rise More than Expected
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%.
2021-02-01
South Korea Export Growth Beats Estimates
Exports from South Korea surged 12.6 percent from a year earlier to USD 51.4 billion in December 2020, after a 4 percent rise in the previous month, far above market consensus of 5.6 percent rise, a preliminary estimate showed. Exports of chips surged by 30 percent, the fastest pace since August 2018, while those of displays and mobile devices also jumping 28 percent and 39.8 percent, respectively. Meanwhile, exports of ships doubled on-year in December to USD 2.78 billion, and those of bio-health products also doubled over the period. By contrast, outbound shipment of petroleum goods plunged 36.5 percent from a year earlier, while those of automobiles were down 4.4 percent. Among key trade partners, exports were up to the US (11.6 percent), China (3.3 percent), and the EU (26.4 percent). Considering the full year of 2020, exports dropped 5.4 percent from a year earlier to USD 512.8 billion, amid the coronavirus pandemic.
2021-01-01
South Korea Exports Rebound in November
Exports from South Korea rose 4 percent from a year earlier to USD 45.81 billion in November 2020, after a 3.8 percent fall in the previous month, but below market consensus of 6.8 percent rise, though the resurgence in new virus cases still poses risks of delaying a full-fledged recovery, a preliminary estimate showed. Exports of chips jumped by 16.4 percent, the fifth consecutive month of increase, while those of automobiles also rose 2.1 percent. On the other hand, exports of displays also surged 21.4 percent. Exports of ships soared 32.6 percent on the improves demand for liquefied natural gas vessels. By contrast, outbound shipment of petrochemical fell 8.3 percent from a year earlier. Among key trade partners, exports were up to the US (6.8 percent), China (1 percent), and the EU (24.6 percent). Conversely, exports plunged to Japan (-12 percent).
2020-12-01
South Korea Exports Fall Less than Expected
Exports from South Korea dropped 3.6 percent from a year earlier to USD 44.9 billion in October 2020, after a downwardly revised 7.6 percent jump in the previous month, but better than market consensus of 4 percent fall, due to the resurgence of new coronavirus cases around the globe and fewer working days, a preliminary estimate showed. Exports of petrochemical and petroleum products plunged 10.6 percent from a year earlier, due to falling global oil prices. By contrast exports of chips increased by 10.2 percent, the fourth consecutive month of increase, while those of automobiles also rose 5.8 percent. On the other hand, exports of displays also went up 5.2 percent, the first time increase in 26 months, while those of computers rose by 5.3 percent. Among key trade partners, exports were down to China (-5.7 percent), Japan (-19.2 percent) and the ASEAN countries (-5.8 percent). Conversely, exports rose to the US (3.3 percent) and the EU (9.5 percent).
2020-11-01

South Korea Exports
South Korea has an export oriented economy and its exports account for more than 50 percent of GDP. The country's exports tumbled 10.3 percent to USD 542.4 billion in 2019 after reaching a record high in the previous year, due to the US-China trade dispute, Japan's restrictions on exports, Brexit, and Hong Kong protests. Main exports were electrical machinery and equipment (28 percent of total exports), nuclear reactors, boilers, machinery and mechanical (13 percent), road vehicles (12 percent), mineral fuels, mineral oils, bituminous substances (8 percent), plastics and articles thereof (6 percent), iron and steel (4 percent), optical, photographic, cinematographic, measuring (4 percent), organic chemicals (4 percent), and ships and boats (3 percent). China was the largest destination of South Korea's shipments (25 percent of total exports), followed by the US (14 percent), Vietnam (9 percent), Hong Kong (6 percent), Japan (5 percent), Taiwan and India (3 percent each), and Singapore, Mexico, Malaysia, Germany and the Philippines (2 percent each).
South Korea Exports by Country Last Previous
China 11762000.00 12702000.00 USD THO Jan/21
United States 8388000.00 7165000.00 USD THO Jan/21
European Union 4783000.00 5504000.00 USD THO Jan/21
Vietnam 4635000.00 5270000.00 USD THO Jan/21
Hong Kong 3102829.00 2636393.00 USD THO Dec/20
Japan 2228000.00 2328000.00 USD THO Jan/21
Taiwan 1771996.00 1582099.00 USD THO Dec/20
India 1270000.00 1262000.00 USD THO Jan/21
Germany 1122868.00 977324.00 USD THO Dec/20
Singapore 905293.00 736009.00 USD THO Dec/20
Mexico 871386.00 772231.00 USD THO Dec/20
Indonesia 862506.00 612510.00 USD THO Dec/20
Malaysia 812176.00 664200.00 USD THO Dec/20
Russia 757378.00 698355.00 USD THO Dec/20
Poland 694886.00 578348.00 USD THO Dec/20
Thailand 676741.00 700884.00 USD THO Dec/20
Australia 609077.00 583213.00 USD THO Dec/20
Philippines 507492.00 617492.00 USD THO Dec/20
Canada 501699.00 528802.00 USD THO Dec/20
Brazil 479028.00 332926.00 USD THO Dec/20
South Korea Exports by Category Last Previous
Heavy Industry Products 44512000.00 39499000.00 USD THO Dec/20
Semi Conductor 8717000.00 9462000.00 USD THO Jan/21
Kcs - General Machinery 4044000.00 4747000.00 USD THO Jan/21
Information & Communications Equipment 4013000.00 3730000.00 USD THO Dec/20
Kcs - Car 3996000.00 3619000.00 USD THO Jan/21
Metal Goods 3823000.00 3538000.00 USD THO Dec/20
Kcs - Petroleum Chemical 3585000.00 3545000.00 USD THO Jan/21
Kcs - Ship Class 3485000.00 2782000.00 USD THO Jan/21
Passenger Car 3424000.00 3802000.00 USD THO Dec/20
Light Industry Products 3100000.00 2958000.00 USD THO Dec/20
Crude Materials & Fuels 2972000.00 2597000.00 USD THO Dec/20
Ship & Boat 2724000.00 980000.00 USD THO Dec/20
Kcs - Iron and Steel Products 2454000.00 2420000.00 USD THO Jan/21
Petroleum & Derivatives 2151000.00 1777000.00 USD THO Dec/20
Kcs - Petroleum Products 1815000.00 2091000.00 USD THO Jan/21
Kcs - Computer 1810000.00 1112000.00 USD THO Jan/21
Kcs - Wireless Communication Machine 1358000.00 1484000.00 USD THO Jan/21
Heavy Industry Products - Computer 1068000.00 941000.00 USD THO Dec/20
Kcs - Appliances 912000.00 686000.00 USD THO Jan/21
Food & Direct Consumer Goods 826000.00 788000.00 USD THO Dec/20

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