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. source: Ministry of Trade, Industry & Energy (MOTIE)

Imports in South Korea averaged 14117.43 USD Million from 1966 until 2020, 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 November of 2020.

Imports in South Korea is expected to be 45000.00 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 45000.00 in 12 months time. In the long-term, the South Korea Imports is projected to trend around 45900.00 USD Million in 2021, according to our econometric models.

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South Korea Imports

Actual Previous Highest Lowest Dates Unit Frequency
38997.00 39344.78 48480.62 38.61 1966 - 2020 USD Million Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-08-01 12:00 AM Jul -11.9% -11.4% -11.5%
2020-09-01 12:00 AM Aug -16.3% -11.6% -15.2%
2020-10-01 12:00 AM Sep 1.1% -15.8% -4.9%
2020-11-01 12:00 AM Oct -5.8% 1.6% -2.1%
2020-12-01 12:00 AM Nov -5.8%
2021-01-01 12:00 AM Dec
2021-02-01 12:00 AM Jan
2021-03-01 12:00 AM Feb


News Stream
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.
2020-11-01
South Korea Imports Rise Unexpectedly in September
Imports to South Korea increased 1.1 percent year-on-year to USD 39.17 billion in September 2020, after a downwardly revised 15.8 percent fall in August and easily beating market expectations of a 4.9 percent slump, a preliminary estimate showed. It was the first increase in imports since February as demand gradually recovers from the pandemic shock.
2020-10-01
South Korea Imports Fall More than Expected
Imports to South Korea dropped 16.3 percent year-on-year to USD 35.54 billion in August 2020, the sixth month of decline in a row and compared with market forecasts of a 15.2 percent fall, a preliminary estimate showed. Domestic demand remained under pressure amid a resurgence in coronavirus cases across the country.
2020-09-01
South Korea Imports Drop Slightly More than Expected
Imports to South Korea declined by 11.9 percent year-on-year to USD 38.6 billion in July 2020, compared with market forecasts of an 11.5 percent fall and after an 11.4 percent drop a month earlier, a preliminary estimate showed. Domestic demand remained under pressure amid a spike in coronavirus cases.
2020-08-01

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 9613000.00 9161000.00 USD THO Oct/20
European Union 5030000.00 4954000.00 USD THO Oct/20
United States 4358000.00 4650000.00 USD THO Oct/20
Japan 3936000.00 3703000.00 USD THO Oct/20
Germany 1802969.00 1782257.00 USD THO Oct/20
Australia 1727907.00 1707858.00 USD THO Oct/20
Taiwan 1713597.00 1610926.00 USD THO Oct/20
Saudi Arabia 1399999.00 1166945.00 USD THO Oct/20
Russia 834632.00 749271.00 USD THO Oct/20
Malaysia 702537.00 739911.00 USD THO Oct/20
Singapore 674469.00 689082.00 USD THO Oct/20
Indonesia 596372.00 598541.00 USD THO Oct/20
Mexico 585132.00 673404.00 USD THO Oct/20
Italy 559329.00 611434.00 USD THO Oct/20
France 506845.00 489313.00 USD THO Oct/20
Qatar 505870.00 448395.00 USD THO Oct/20
Thailand 445703.00 418519.00 USD THO Oct/20
Kuwait 442542.00 473926.00 USD THO Oct/20
Netherlands 442524.00 524164.00 USD THO Oct/20
United Kingdom 422962.00 336249.00 USD THO Oct/20
South Korea Imports by Category Last Previous
Crude Materials & Fuels 16305000.00 16486000.00 USD THO Oct/20
Capital Goods 15397000.00 15409000.00 USD THO Oct/20
Consumer Goods 7372000.00 7449000.00 USD THO Oct/20
Crude Materials & Fuels - Fuel 6219000.00 6548000.00 USD THO Oct/20
Semi-conductor 4887000.00 4612000.00 USD THO Oct/20
Chemicals 3957000.00 3777000.00 USD THO Oct/20
Crude Petroleum 3546000.00 3594000.00 USD THO Oct/20
Consumer Goods - Durable Consumer Goods 3108000.00 2940000.00 USD THO Oct/20
Information & Communication Equipment 2538000.00 2245000.00 USD THO Oct/20
Crude Materials & Fuels - Minerals 1838000.00 1971000.00 USD THO Oct/20
Capital Goods - Transport Equipment 1020000.00 1559000.00 USD THO Oct/20
Consumer Goods - Cereals 571000.00 619000.00 USD THO Oct/20
Crude Materials & Fuels - Textile 343000.00 356000.00 USD THO Oct/20
Consumer Goods - Durable Cons Goodsgold 90000.00 74000.00 USD THO Oct/20
Crude Materials & Fuels - Oilpaper 83000.00 114000.00 USD THO Oct/20
Domestic Use 26511.00 26582.00 USD Million Oct/20
Capital Goods - Domestic Use 9531.00 9885.00 USD Million Oct/20
Consumer Goods - Domestic Use 7061.00 7120.00 USD Million Oct/20
Capital Goods - Use 5866.00 5525.00 USD Million Oct/20
Semi-conductor - Use 3940.00 3640.00 USD Million Oct/20

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