South Korea Exports

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.

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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 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.