Imports in South Korea decreased to 44052 USD Million in January from 44462 USD Million in December of 2020. source: Ministry of Trade, Industry & Energy (MOTIE)

Imports in South Korea averaged 14248.41 USD Million from 1966 until 2021, reaching an all time high of 48480.62 USD Million in October of 2018 and a record low of 38.61 USD Million in January of 1966. This page provides the latest reported value for - South Korea Imports - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. South Korea Imports - data, historical chart, forecasts and calendar of releases - was last updated on February of 2021.

Imports in South Korea is expected to be 42289.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Imports in South Korea to stand at 45900.00 in 12 months time. In the long-term, the South Korea Imports is projected to trend around 45900.00 USD Million in 2022, according to our econometric models.

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South Korea Imports

Actual Previous Highest Lowest Dates Unit Frequency
44052.00 44462.00 48480.62 38.61 1966 - 2021 USD Million Monthly

Calendar GMT Actual Previous Consensus TEForecast
2020-11-01 12:00 AM Oct -5.8% 1.6% -2.1%
2020-12-01 12:00 AM Nov -2.1% -5.6% 0.2%
2021-01-01 12:00 AM Dec 1.8% -2.1% -2.6% -3.2%
2021-02-01 12:00 AM Jan 3.1% 2.2% 1.9%

News Stream
South Korea Imports Grow More than Estimated
Imports to South Korea rose by 3.1 percent year-on-year to USD 44.05 billion in January 2021, after a 2.2 percent gain a month earlier and beating market consensus of a 1.9 percent growth, amid a further recovery in domestic demand in the wake of COVID-19 shocks, a preliminary estimate showed. In 2020, inbound shipments fell 7.2 percent to USD 467.2 billion.
South Korea Imports Unexpectedly Rise in December
Imports to South Korea unexpectedly increased 1.8 percent year-on-year to USD 44.4 billion in December 2020, after a 2.1 percent decline in November and missing market expectations of a 2.6 percent fall, a preliminary estimate showed. Considering the full year of 2020, imports were down 7.2 percent from a year earlier to USD 467.2 billion, as domestic demand remained under pressure amid efforts to contain the coronavirus pandemic.
South Korea Imports Unexpectedly Fall
Imports to South Korea unexpectedly dropped 2.1 percent year-on-year to USD 39.88 billion in November 2020, after a 5.6 percent fall in October and missing market expectations of a 0.2 percent rise, a preliminary estimate showed. Domestic demand remained under pressure amid efforts to contain the coronavirus pandemic.
South Korea Imports Drop More than Estimated
Imports to South Korea fell 5.8 percent year-on-year to USD 39 billion in October 2020, after an upwardly revised 1.6 percent rise in September and worse than market expectations of a 2.1 percent drop, a preliminary estimate showed. Domestic demand remained under pressure amid efforts to contain the coronavirus pandemic.

South Korea Imports
In 2019 imports to South Korea dropped 6 percent to USD 503.2 billion from the previous year's all-time high, as domestic production and facility investment dwindled. Main imports were mineral fuels, mineral oils, bituminous substances (25 percent of total imports), electrical machinery and equipment (18 percent), nuclear reactors, boilers, machinery and mechanical (10 percent), optical, photographic, cinematographic, measuring (4 percent), road vehicles (3 percent), iron and steel (3 percent), ores, slag, ash (3 percent), organic chemicals (3 percent), plastics and articles thereof (2 percent), miscellaneous chemicals products (2 percent), and inorganic chemicals, compounds of precious metals (2 percent). China was the biggest source of imports (21 percent of total imports), followed by the US (12 percent), Japan (9 percent), Saudi Arabia, Vietnam, Australia and Germany (4 percent each), Taiwan, Russia and Qatar (3 percent each), and Kuwait, Malaysia, the UAE and Indonesia (2 percent each).
South Korea Imports by Country Last Previous
China 10749000.00 10879000.00 USD THO Jan/21
United States 4924000.00 4865000.00 USD THO Jan/21
European Union 4817000.00 5984000.00 USD THO Jan/21
Japan 3942000.00 4660000.00 USD THO Jan/21
Australia 1822337.00 1893314.00 USD THO Jan/21
Taiwan 1780028.00 1707642.00 USD THO Jan/21
Germany 1573179.00 1947580.00 USD THO Jan/21
Saudi Arabia 1272341.00 1631495.00 USD THO Jan/21
Singapore 1022548.00 769549.00 USD THO Jan/21
Russia 994092.00 895186.00 USD THO Jan/21
Qatar 934638.00 602352.00 USD THO Jan/21
Netherlands 826517.00 795258.00 USD THO Jan/21
Indonesia 717458.00 677732.00 USD THO Jan/21
Malaysia 713619.00 941263.00 USD THO Jan/21
Mexico 589908.00 590843.00 USD THO Jan/21
Italy 589641.00 659089.00 USD THO Jan/21
India 561000.00 414000.00 USD THO Jan/21
Kuwait 547138.00 475712.00 USD THO Jan/21
United Kingdom 538691.00 518019.00 USD THO Jan/21
Brazil 490034.00 353388.00 USD THO Jan/21
South Korea Imports by Category Last Previous
Crude Materials & Fuels 19440000.00 19386000.00 USD THO Jan/21
Capital Goods 17330000.00 17158000.00 USD THO Jan/21
Crude Materials & Fuels - Fuel 8112000.00 7446000.00 USD THO Jan/21
Consumer Goods 7485000.00 8094000.00 USD THO Jan/21
Semi-conductor 4693000.00 4757000.00 USD THO Jan/21
Chemicals 4353000.00 4528000.00 USD THO Jan/21
Crude Petroleum 3938000.00 3808000.00 USD THO Jan/21
Information & Communication Equipment 3148000.00 2807000.00 USD THO Jan/21
Consumer Goods - Durable Consumer Goods 3005000.00 3796000.00 USD THO Jan/21
Crude Materials & Fuels - Minerals 2146000.00 2195000.00 USD THO Jan/21
Capital Goods - Transport Equipment 863000.00 986000.00 USD THO Jan/21
Consumer Goods - Cereals 676000.00 609000.00 USD THO Jan/21
Crude Materials & Fuels - Textile 343000.00 365000.00 USD THO Jan/21
Consumer Goods - Durable Cons Goodsgold 207000.00 128000.00 USD THO Jan/21
Crude Materials & Fuels - Oilpaper 123000.00 112000.00 USD THO Jan/21
Domestic Use 30557.00 31117.00 USD Million Jan/21
Capital Goods - Domestic Use 11744.00 11528.00 USD Million Jan/21
Consumer Goods - Domestic Use 7152.00 7721.00 USD Million Jan/21
Capital Goods - Use 5585.00 5630.00 USD Million Jan/21
Fuels - Use 4508.00 4139.00 USD Million Jan/21

United Nations Comtrade Database
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