Exports from South Korea dropped by 2.0 percent year-on-year to USD 48.86 billion April 2019, following an 8.2 percent fall in March, while markets expected a 5.0 percent decrease. The decline in April's exports was partially due to a fall in cost of semiconductors and petrochemicals; slowing Chinese economy; ongoing trade dispute between the US and China and stagnant world trade. Sales of semiconductors fell 13.5 percent, mostly due to falling prices of memory chips, prolonged inventory adjustments in data centers, and sluggish demand for smartphones. Also, sales of petrochemicals went down 5.7 percent while exports rose for general machinery (0.3 percent) and automobiles (5.8 percent) due to newly launched models and growing popularity of sports utility vehicles (SUVs) and eco-friendly cars. Among trading partners, exports fell to China (-4.5 percent) and the ASEAN (-1.0 percent) while those to the US (3.9 percent) and Central and South America (39.7 percent) increased. Exports in South Korea averaged 14461.77 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 50300.00 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 49000.00 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.

South Korea Exports
width
height
Forecast Data Chart
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.


Calendar GMT Actual Previous Consensus TEForecast
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 -8.2% -11.4% -8.7%
2019-05-01 12:00 AM Exports YoY -2% -8.2% -5%
2019-06-01 12:00 AM Exports YoY -2%
2019-07-01 12:00 AM Exports YoY
2019-08-01 12:00 AM Exports YoY


South Korea Trade Last Previous Highest Lowest Unit
Balance of Trade 4120.00 5205.66 13419.36 -4043.46 USD Million [+]
Current Account 4820.00 3601.90 12409.70 -3845.00 USD Million [+]
Current Account to GDP 4.70 4.90 10.70 -10.50 percent [+]
Imports 44737.00 41896.18 48480.62 38.61 USD Million [+]
Exports 48857.00 47101.84 55115.24 14.75 USD Million [+]
External Debt 440598.50 449529.10 452718.00 80766.40 USD Million [+]
Terms of Trade 95.10 95.90 237.00 86.10 Index Points [+]
Foreign Direct Investment 3173570.00 7698151.00 10820073.00 0.00 USD Thousand [+]
Capital Flows 6183.20 2822.40 12350.90 -3406.90 USD Million [+]
Tourism Revenues 1645900.00 1107900.00 1765400.00 326500.00 USD Million [+]
Tourist Arrivals 1535641.00 1201802.00 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 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 May of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
48857.00 47101.84 55115.24 14.75 1966 - 2019 USD Million Monthly




Related

Latest