Retail sales in South Korea rebounded 1.7 percent year-on-year in May 2020 after declining 2.2 in the previous month, as the coronavirus outbreak softened and retail activity gradually reopens. On the bright side, consumption of durables surged 13.9 percent following a 10.4 percent increase. On a monthly basis, retail sales grew 4.6 percent following a 5.3 percent expansion in the previous month.

Retail Sales YoY in South Korea averaged 3.79 percent from 1996 until 2020, reaching an all time high of 20.20 percent in May of 2000 and a record low of -21.50 percent in July of 1998. This page provides - South Korea Retail Sales YoY - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Korea Retail Sales YoY - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: Statistics Korea

Retail Sales YoY in South Korea is expected to be 3.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Retail Sales YoY in South Korea to stand at 5.00 in 12 months time. In the long-term, the South Korea Retail Sales YoY is projected to trend around 5.00 percent in 2021 and 6.00 percent in 2022, according to our econometric models.

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South Korea Retail Sales YoY

Actual Previous Highest Lowest Dates Unit Frequency
1.70 -2.20 20.20 -21.50 1996 - 2020 percent Monthly
NSA


Calendar GMT Actual Previous Consensus TEForecast
2020-03-30 11:00 PM Feb -2.3% 1.8% -3%
2020-04-28 11:00 PM Mar -8.0% -2.4% 3.2%
2020-05-28 11:00 PM Apr -2.2% -8.0% -2.5%
2020-06-29 11:00 PM May 1.7% -2.2% -1.4%
2020-07-30 11:00 PM Jun 1.7% 3.5%
2020-08-30 11:00 PM Jul
2020-09-28 11:00 PM Aug
2020-10-29 11:00 PM Sep 3.9%


News Stream
South Korea Retail Sales Rebound in May
Retail sales in South Korea rebounded 1.7 percent year-on-year in May 2020 after declining 2.2 in the previous month, as the coronavirus outbreak softened and retail activity gradually reopens. On the bright side, consumption of durables surged 13.9 percent following a 10.4 percent increase. On a monthly basis, retail sales grew 4.6 percent following a 5.3 percent expansion in the previous month.
2020-06-29
South Korea Retail Sales Drop 2.2% YoY
Retail sales in South Korea declined 2.2 percent year-on-year in April 2020 after plunging 8 percent in the previous month, as the coronavirus outbreak dragged demand. On the bright side, consumption of durables surged 10.3 percent following a 3.3 percent increase. On a monthly basis, retail sales rebounded a sharp 5.3 percent following a 1 percent drop in the previous month.
2020-05-28
South Korea Retail Sales Plunge in March
Retail sales in South Korea declined 8 percent year-on-year in March 2020 after falling 2.4 percent in the previous month, as the coronavirus outbreak dragged demand. It was the sharpest decline since November of 1998. On a monthly basis, retail sales dropped a softer 1 percent following a 6 percent plunge in the previous month, which was the largest decline in nine years.
2020-04-28
South Korea Retail Sales Tank in February
Retail sales in South Korea declined 2.3 percent year-on-year in February 2020 after climbing 1.8 percent in the previous month. It was the sharpest decline in retail trade since January of 2015. On a monthly basis, retail sales dropped a sharp 6 percent, the largest decline in nine years, after decreasing 3.1 percent in the previous month.
2020-03-30

South Korea Retail Sales YoY
In South Korea, the year-over-year change in Retail sales compares the aggregated sales of retail goods and services during a certain month to the same month a year ago. .