Exports from South Korea jumped 7.7 percent from a year earlier to USD 48.05 billion in September 2020, the first increase in seven months and the fastest rise since October 2018, a preliminary estimate showed. Export growth also beat market expectations of a 2 percent rise, as global demand continued to recover from the coronavirus shock. Exports rose for chips (11.8 percent), automobiles (23.2 percent), home appliances (30.2 percent) and computers (66.8 percent). Also, exports of bio-health surged nearly 80 percent. Among key trade partners, exports rose to China (8.2 percent), the US (23.2 percent), ASEAN (4.3 percent), the EU (15.4 percent) and India (28.2 percent), but dropped to Japan (-6 percent), the Middle East (-9.7 percent), Latin America (-27.6 percent) and CIS (-16.6 percent).

Exports in South Korea averaged 15201.23 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 October of 2020. source: Ministry of Trade, Industry & Energy (MOTIE)

Exports in South Korea is expected to be 50800.00 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
48050.00 39572.34 55115.24 14.75 1966 - 2020 USD Million Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-07-01 01:00 AM Jun -10.9% -23.7% -7.8%
2020-08-01 12:00 AM Jul -7% -10.9% -9.7%
2020-09-01 12:00 AM Aug -9.9% -7.1% -11.5%
2020-10-01 12:00 AM Sep 7.7% -10.1% 2%


News Stream
South Korea Exports Rise for 1st Time in 7 Months
Exports from South Korea jumped 7.7 percent from a year earlier to USD 48.05 billion in September 2020, the first increase in seven months and the fastest rise since October 2018, a preliminary estimate showed. Export growth also beat market expectations of a 2 percent rise, as global demand continued to recover from the coronavirus shock. Exports rose for chips (11.8 percent), automobiles (23.2 percent), home appliances (30.2 percent) and computers (66.8 percent). Also, exports of bio-health surged nearly 80 percent. Among key trade partners, exports rose to China (8.2 percent), the US (23.2 percent), ASEAN (4.3 percent), the EU (15.4 percent) and India (28.2 percent), but dropped to Japan (-6 percent), the Middle East (-9.7 percent), Latin America (-27.6 percent) and CIS (-16.6 percent).
2020-10-01
South Korea Exports Fall for 6th Month
Exports from South Korea fell 9.9 percent from a year earlier to USD 39.66 billion in August 2020, the sixth consecutive month of decrease and compared to market expectations of an 11.5 percent fall, as global demand remained subdued amid a resurgence in COVID-19 cases. Exports of displays were down 22.8 percent as sales of liquid-crystal display (LCD) panels dropped owing to the global market uncertainty, while exports of general machinery fell 17.1 percent. Meanwhile, exports of computers spiked 106.6 percent, the 11th straight month of growth, and sales of home appliances advanced 14.9 percent. Among key trade partners, exports declined to China (-3.0 percent), the US (-0.4 percent), ASEAN (-17.8 percent), the EU (-2.5 percent) and Japan (-20.7 percent).
2020-09-01
South Korea Exports Fall Less than Forecast
Exports from South Korea fell 7 percent from a year earlier to USD 42.8 billion in July 2020, compared with market consensus of a 9.7 percent drop, a preliminary estimate showed. It was the fifth straight month of decline in exports, but the smallest since March, as global demand gradually recovers following the easing of coronavirus-induced lockdown measures. Sales were sharply down for petrochemicals (-21 percent) on lower oil prices and for automobiles (-4.2 percent) due to the weak demand from European markets. On the other hand, shipments of semiconductors, the nation's top export, climbed 5.6 percent, while those of computers and ships surged 77.1 percent and 18.0 percent, respectively. Among major trade partners, exports declined to the EU (-11.1 percent), but rose to the US (7.7 percent), the first increase since the outbreak, and China (2.5 percent).
2020-08-01
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
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 12299000.00 10944000.00 USD THO Sep/20
United States 7009000.00 5595000.00 USD THO Sep/20
European Union 5080000.00 3846000.00 USD THO Sep/20
Vietnam 4804000.00 4111000.00 USD THO Sep/20
Hong Kong 3008951.00 2151442.00 USD THO Sep/20
Japan 2171000.00 1778000.00 USD THO Sep/20
Taiwan 1529111.00 1424570.00 USD THO Sep/20
India 1473000.00 860000.00 USD THO Sep/20
Germany 855797.00 637595.00 USD THO Sep/20
Mexico 779998.00 637423.00 USD THO Sep/20
Singapore 764283.00 711541.00 USD THO Sep/20
Malaysia 743246.00 577508.00 USD THO Sep/20
Russia 691653.00 507347.00 USD THO Sep/20
Philippines 672561.00 566785.00 USD THO Sep/20
Australia 623940.00 584920.00 USD THO Sep/20
Thailand 603168.00 541698.00 USD THO Sep/20
Poland 586760.00 438177.00 USD THO Sep/20
Turkey 579622.00 422674.00 USD THO Sep/20
Canada 541944.00 446299.00 USD THO Sep/20
Indonesia 532282.00 415144.00 USD THO Sep/20
South Korea Exports by Category Last Previous
Heavy Industry Products 41574000.00 33918000.00 USD THO Sep/20
Semi Conductor 9504000.00 8203000.00 USD THO Sep/20
Kcs - Car 3795000.00 2595000.00 USD THO Sep/20
Metal Goods 3655000.00 3025000.00 USD THO Sep/20
Passenger Car 3604000.00 2460000.00 USD THO Sep/20
Information & Communications Equipment 3595000.00 3015000.00 USD THO Sep/20
Kcs - Petroleum Chemical 3162000.00 2758000.00 USD THO Sep/20
Light Industry Products 3075000.00 2424000.00 USD THO Sep/20
Crude Materials & Fuels 2644000.00 2569000.00 USD THO Sep/20
Kcs - Iron and Steel Products 2416000.00 2040000.00 USD THO Sep/20
Petroleum & Derivatives 2014000.00 2028000.00 USD THO Sep/20
Kcs - Petroleum Products 1962000.00 1999000.00 USD THO Sep/20
Kcs - Auto Parts 1955000.00 1294000.00 USD THO Sep/20
Kcs - Ship Class 1749000.00 1236000.00 USD THO Sep/20
Ship & Boat 1705000.00 1133000.00 USD THO Sep/20
Kcs - Computer 1243000.00 1310000.00 USD THO Sep/20
Heavy Industry Products - Computer 1206000.00 1268000.00 USD THO Sep/20
Kcs - Wireless Communication Machine 1188000.00 838000.00 USD THO Sep/20
Kcs - Fiber 1065000.00 795000.00 USD THO Sep/20
Kcs - Appliances 757000.00 597000.00 USD THO Sep/20

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