Imports to South Korea fell 5.3 percent year-on-year to USD 42.7 billion in January 2020, following a 0.7 percent decrease in the previous month and compared with market expectations of a 6.9 percent decline, mainly due to lower purchases of bituminous coal, semiconductor manufacturing equipment, and gasoline passenger vehicles. South Korea Imports - data, historical chart, and calendar of releases - was last updated on February of 2020 from its official source.

Imports in South Korea averaged 13789.78 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. source: Ministry of Trade, Industry & Energy (MOTIE)

Imports in South Korea is expected to be 41500.00 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
42729.00 43697.71 48480.62 38.61 1966 - 2020 USD Million Monthly


Calendar GMT Actual Previous Consensus TEForecast
2019-11-01 12:00 AM Oct -14.6% -5.6% -13.2%
2019-12-01 12:00 AM Nov -13.0% -14.6% -11.9%
2020-01-01 12:00 AM Dec -0.7% -13% -4.6% -5.2%
2020-02-01 12:00 AM Jan -5.3% -0.7% -6.9%


News Stream
South Korea Imports Drop More than Estimated
Imports to South Korea tumbled 13.0 percent from a year earlier to USD 40.7 billion in November 2019, compared to market forecasts of a 11.9 percent decline, a preliminary estimate showed. That was the seventh straight month of year-on-year decrease in purchases.
2019-12-01
South Korea Imports Fall More than Estimated
Imports to South Korea slumped 5.6 percent from a year earlier to USD 38.74 billion in September 2019, compared to market consensus of a 3 percent fall and after a 4.2 percent drop in the preceding month.
2019-10-01
South Korea Imports Drop More than Forecast
Imports to South Korea slumped 4.2 percent from a year earlier to USD 42.48 billion in August 2019, compared to market consensus of a 4 percent fall and after a 2.7 percent drop in the preceding month.
2019-09-01
South Korea Imports Fall More than Estimated
Imports to South Korea dropped by 11.1 percent year-on-year to USD 40.01 billion in June 2019, accelerating from a marginally revised 1.8 percent fall in the previous month and compared with market consensus of a 10.1 percent decline.
2019-06-30

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 9024110.00 8965357.00 USD THO Dec/19
United States 5870811.00 5269967.00 USD THO Dec/19
European Union 5049488.00 4592108.00 USD THO Dec/19
Japan 3924814.00 3522140.00 USD THO Dec/19
Australia 1985642.00 1481010.00 USD THO Dec/19
Germany 1959106.00 1601553.00 USD THO Dec/19
Saudi Arabia 1526967.00 1674983.00 USD THO Dec/19
Taiwan 1503655.00 1358660.00 USD THO Dec/19
Russia 1239271.00 1248121.00 USD THO Dec/19
Qatar 1158662.00 1051316.00 USD THO Dec/19
United Arab Emirates 1125017.00 836529.00 USD THO Dec/19
Malaysia 942914.00 757152.00 USD THO Dec/19
Kuwait 928708.00 928014.00 USD THO Dec/19
Singapore 690799.00 469348.00 USD THO Dec/19
Indonesia 677989.00 621321.00 USD THO Dec/19
Mexico 616245.00 435495.00 USD THO Dec/19
Italy 587218.00 544176.00 USD THO Dec/19
India 526602.00 461331.00 USD THO Dec/19
France 492724.00 458970.00 USD THO Dec/19
Netherlands 425146.00 259528.00 USD THO Dec/19
South Korea Imports by Category Last Previous
Crude Materials & Fuels 21867000.00 20456000.00 USD THO Dec/19
Capital Goods 14323000.00 13781000.00 USD THO Dec/19
Crude Materials & Fuels - Fuel 11336000.00 10314000.00 USD THO Dec/19
Consumer Goods 7508000.00 6479000.00 USD THO Dec/19
Crude Petroleum 5892000.00 5920000.00 USD THO Dec/19
Semi-conductor 4049000.00 3813000.00 USD THO Dec/19
Chemicals 4024000.00 3756000.00 USD THO Dec/19
Consumer Goods - Durable Consumer Goods 3263000.00 2570000.00 USD THO Dec/19
Information & Communication Equipment 2195000.00 2684000.00 USD THO Dec/19
Crude Materials & Fuels - Minerals 1947000.00 1685000.00 USD THO Dec/19
Capital Goods - Transport Equipment 1164000.00 1208000.00 USD THO Dec/19
Consumer Goods - Cereals 662000.00 510000.00 USD THO Dec/19
Crude Materials & Fuels - Textile 334000.00 337000.00 USD THO Dec/19
Crude Materials & Fuels - Oilpaper 95000.00 90000.00 USD THO Dec/19
Consumer Goods - Durable Cons Goodsgold 92000.00 68000.00 USD THO Dec/19
Domestic Use 29017.00 26396.00 USD Million Dec/19
Capital Goods - Domestic Use 9538.00 8741.00 USD Million Dec/19
Consumer Goods - Domestic Use 7160.00 6131.00 USD Million Dec/19
Fuels - Use 6459.00 6010.00 USD Million Dec/19
Fuels - Domestic Use 4876.00 4304.00 USD Million Dec/19

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