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.

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South Korea Exports

Actual Previous Highest Lowest Dates Unit Frequency
39200.00 34856.00 55115.24 14.75 1966 - 2020 USD Million Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-04-01 12:00 AM Mar -0.2% 4.5% 1.5%
2020-05-01 12:00 AM Apr -24.3% -0.2% -25.4%
2020-06-01 12:00 AM May -23.7% -25.1% -22.1%
2020-07-01 01:00 AM Jun -10.9% -23.7% -7.8%


News Stream
South Korea Exports Drop More than Estimated
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.
2020-07-01
South Korea Exports Plunge to Decade Low
Exports from South Korea tumbled 23.7 percent from a year earlier to USD 34.86 billion in May 2020, the lowest level since February 2010, compared with market consensus of a 22.1 percent fall, as the coronavirus pandemic hit global demand. Sales were sharply down for automobiles (-54.1 percent) and auto parts (-66.7 percent), general machinery (-27.8 percent), petrochemicals (-34.3 percent), petroleum products (-69.9 percent), steel (-34.8 percent), display (-29.7 percent), textiles (-43.5 percent), wireless communication devices (-22.2 percent) and home appliances (-37.0 percent). Meanwhile, sales of semiconductors, ships, computers and bio-health products jumped. Among major trade partners, exports declined to China (-2.8 percent), ASEAN (-30.2 percent), the US (-29.3 percent), the EU (-25.0 percent), Japan (-28.8 percent), the Middle East (-25.7 percent), Latin America (-53.5 percent), CIS (-35.1 percent) and India (-71.7 percent).
2020-06-01
South Korea Exports Fall the Most Since May 2009
Exports from South Korea tumbled 24.3% yoy to the smallest in over four years of USD 36.92 billion in April 2020, after a 0.2% drop in March and compared with market consensus of a 25.4% fall, This was the steepest decline in outbound shipments since May 2009 as the coronavirus pandemic paralyzed the global economy and deteriorated demand. Sales of semiconductors, the country's top exports, fell by 14.9%. Also, exports plunged for oil products (-56.8%), car components (-49.6%), and wireless devices (-33.4%). In contrast, sales of health products jumped 29%, amid soaring demand for test kits for COVID-19. Exports of computers also doubled as more people worked from home. Sales fell to China (-17.9%), the US (-13.5%), and Europe (-12.8%).
2020-05-01
South Korea Exports Drop Unexpectedly
Exports from South Korea fell 0.2 percent year-on-year to USD 46.91 billion in March 2020, missing market expectations of a 1.5 percent growth, as the COVID-19 pandemic hurts demand. Semiconductor exports were down 2.7 percent and ships sales dropped 31.4 percent. Also, outbound shipments of petrochemicals fell 9.0 percent and those of petroleum products declined 5.9 percent due to a plunge in oil prices. By contrast, there were increases in exports of automobiles (3.0 percent), computers (82.3 percent) and bio health products (23.7 percent). By region, exports fell to China (-5.8 percent), ASEAN (-1.9 percent), India (-9.4 percent), the CIS (-5.9 percent) and Central and South America (-25.8 percent). On the other hand, sales were up to the US (17.3 percent), the EU (10.0 percent), the Middle East (7.9 percent), Japan (13.9 percent).
2020-04-01

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 11416000.00 10711000.00 USD THO Jun/20
United States 5730000.00 4597000.00 USD THO Jun/20
European Union 3581000.00 3271000.00 USD THO Jun/20
Vietnam 3505000.00 2912000.00 USD THO Jun/20
Hong Kong 2366149.00 2392050.00 USD THO May/20
Japan 1854000.00 1805000.00 USD THO Jun/20
Taiwan 1198441.00 1288976.00 USD THO May/20
Germany 731317.00 786267.00 USD THO May/20
Singapore 673731.00 762053.00 USD THO May/20
India 584000.00 400000.00 USD THO Jun/20
Philippines 516223.00 587129.00 USD THO May/20
Malaysia 429965.00 538574.00 USD THO May/20
Poland 388515.00 347584.00 USD THO May/20
Mexico 375208.00 530208.00 USD THO May/20
Russia 366647.00 427078.00 USD THO May/20
United Kingdom 366068.00 370134.00 USD THO May/20
Thailand 359070.00 514699.00 USD THO May/20
Indonesia 326386.00 448330.00 USD THO May/20
Turkey 316934.00 382110.00 USD THO May/20
New Zealand 283205.00 49484.00 USD THO May/20
South Korea Exports by Category Last Previous
Heavy Industry Products 30543000.00 31157000.00 USD THO May/20
Semi Conductor 8303000.00 8068000.00 USD THO Jun/20
Kcs - Petroleum Chemical 2750000.00 2365000.00 USD THO Jun/20
Metal Goods 2586000.00 2966000.00 USD THO May/20
Information & Communications Equipment 2510000.00 2371000.00 USD THO May/20
Kcs - Car 2493000.00 1805000.00 USD THO Jun/20
Light Industry Products 2110000.00 2358000.00 USD THO May/20
Kcs - Iron and Steel Products 2055000.00 1778000.00 USD THO Jun/20
Passenger Car 1732000.00 2269000.00 USD THO May/20
Crude Materials & Fuels 1611000.00 2317000.00 USD THO May/20
Kcs - Petroleum Products 1567000.00 1058000.00 USD THO Jun/20
Ship & Boat 1549000.00 1012000.00 USD THO May/20
Kcs - Ship Class 1387000.00 1611000.00 USD THO Jun/20
Kcs - Computer 1233000.00 1196000.00 USD THO Jun/20
Petroleum & Derivatives 1151000.00 1724000.00 USD THO May/20
Heavy Industry Products - Computer 1136000.00 1011000.00 USD THO May/20
Kcs - Wireless Communication Machine 1016000.00 848000.00 USD THO Jun/20
Kcs - Auto Parts 945000.00 648000.00 USD THO Jun/20
Kcs - Fiber 827000.00 693000.00 USD THO Jun/20
Food & Direct Consumer Goods 637000.00 718000.00 USD THO May/20

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