South Korea Exports

Exports from South Korea declined by 11.1 percent year-on-year to USD 39.56 billion in February 2019, missing market expectations of a 10.8 percent fall and following a 5.8 percent drop in the previous month. It marked the third straight month of decrease in outbound shipments and the steepest since April 2016, amid ongoing Sino-US trade conflict and lower oil prices. Sales of memory chips tumbled 24.8 pct, as global demand for smartphone slowed and major tech firms postponed purchases. Also, exports dropped for petrochemicals (-14.8 pct), amid a decline in crude oil prices. Meantime, sales of ships slumped 46.5 percent. The sharp decline of orders in 2016 continued to exert a negative impact, as takes around two to three years build exports ships. Exports to China, South Korea's top trading partner, contracted 17.4 pct while those to EU dropped 8.5 percent. In contrast, outbound shipments to the US grew for fifth straight month. Exports in South Korea averaged 14357.11 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 49100.00 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 51800.00 in 12 months time. In the long-term, the South Korea Exports is projected to trend around 50800.00 USD Million in 2020, according to our econometric models.

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Calendar	GMT		Actual	Previous	Consensus	TEForecast
2018-12-01	12:00 AM	Exports YoY	4.5%	22.7%	6.6%
2019-01-01	12:00 AM	Exports YoY	-1.2%	4.1%	3.3%
2019-02-01	12:00 AM	Exports YoY	-5.8%	-1.3%	-7%	-15%
2019-03-01	12:00 AM	Exports YoY	-11.1%	-5.9%	-10.8%
2019-04-01	12:00 AM	Exports YoY		-11.1%
2019-05-01	12:00 AM	Exports YoY
2019-06-01	12:00 AM	Exports YoY

South Korea Trade	Last	Previous	Highest	Lowest	Unit
Balance of Trade	3098.00	1293.92	13419.36	-4043.46	USD Million	[+]
Current Account	2772.30	4819.30	12409.70	-3845.00	USD Million	[+]
Current Account to GDP	5.60	7.00	10.70	-10.50	percent	[+]
Imports	36466.00	45031.30	48480.62	38.61	USD Million	[+]
Exports	39564.00	46325.22	55115.24	14.75	USD Million	[+]
External Debt	440598.50	449529.10	452718.00	80766.40	USD Million	[+]
Terms of Trade	97.60	98.90	237.00	86.10	Index Points	[+]
Foreign Direct Investment	7698000.00	3448981.00	10819799.00	0.00	USD Thousand	[+]
Capital Flows	2973.80	5585.20	12350.90	-3406.90	USD Million	[+]
Tourism Revenues	1085300.00	1238700.00	1765400.00	326500.00	USD Million	[+]
Tourist Arrivals	1201802.00	1104803.00	1703495.00	213006.00		[+]
Gold Reserves	104.40	104.40	104.44	13.00	Tonnes	[+]
Terrorism Index	0.29	0.61	2.62	0.00		[+]
Weapons Sales	587.00	585.00	587.00	7.00	USD Million	[+]

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

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 March of 2019.