South Korea Exports

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.

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Calendar	GMT		Actual	Previous	Consensus	TEForecast
2019-06-01	12:00 AM	Exports YoY May	-9.4%	-2%	-5.6%
2019-07-01	12:00 AM	Exports YoY Jun	-13.5%	-9.5%	-12%
2019-08-01	12:00 AM	Exports YoY Jul	-11%	-13.5%	-11.3%
2019-09-01	12:00 AM	Exports YoY Aug	-13.6%	-11%	-13.6%	-11.5%
2019-10-01	12:00 AM	Exports YoY Sep		-13.6%
2019-11-01	12:00 AM	Exports YoY Oct
2019-12-01	12:00 AM	Exports YoY Nov

South Korea Trade	Last	Previous	Highest	Lowest	Unit
Balance of Trade	1723.00	2403.33	13419.36	-4043.46	USD Million	[+]
Current Account	6949.40	6376.60	12409.70	-3845.00	USD Million	[+]
Current Account to GDP	4.70	4.90	10.70	-10.50	percent	[+]
Imports	42477.00	43690.71	48480.62	38.61	USD Million	[+]
Exports	44200.00	46094.04	55115.24	14.75	USD Million	[+]
External Debt	462061.90	440584.60	462061.90	80766.40	USD Million	[+]
Terms of Trade	91.50	92.20	228.10	82.90	Index Points	[+]
Foreign Direct Investment	6704915.00	3172507.00	10820073.00	0.00	USD Thousand	[+]
Capital Flows	6550.00	6516.20	12350.90	-3406.90	USD Million	[+]
Tourism Revenues	1522800.00	1500300.00	1765400.00	326500.00	USD Million	[+]
Tourist Arrivals	1448067.00	1476218.00	1703495.00	213006.00		[+]
Gold Reserves	104.40	104.40	104.44	13.00	Tonnes	[+]
Weapons Sales	1083.00	751.00	1083.00	7.00	USD Million	[+]
Terrorism Index	0.29	0.61	2.62	0.00		[+]

Exports by Country | Exports by Category | Imports by Country | Imports by Category

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. 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 - actual data, historical chart and calendar of releases - was last updated on September of 2019.