Exports from South Korea slumped 5.7 percent from a year earlier to USD 52.5 billion in October 2022, the first month of decline since October 2020 and compared with market expectations of a 3 percent fall, due to unfavorable external conditions such as the global economic downturn, protracted Russia-Ukraine war and major countries’ austerity measures. China’s reduced imports and semiconductor price falls have also hit exports. Sales were down for chips (-17.4 percent), petrochemicals (-25.5 percent), steel (-20.8 percent), displays (-7.9 percent), computers (-37.1 percent), wireless communication devices (-5.4 percent) and home appliances (-22.3 percent). In contrast, exports rose for cars (28.5 percent) and petroleum products (7.6 percent). By destination, shipments declined to China (-15.7 percent), ASEAN (-5.8 percent), Japan (-13.1 percent), Latin America (-27.0 percent), India (-0.3 percent) and the GCC (-6.5 percent), but increased to the US (6.6 percent) and EU (10.3 percent). source: Ministry of Trade, Industry & Energy (MOTIE)

Exports YoY in South Korea averaged 16.50 percent from 1967 until 2022, reaching an all time high of 148.58 percent in October of 1973 and a record low of -35.77 percent in January of 2009. This page includes a chart with historical data for South Korea Exports YoY. South Korea Exports YoY - data, historical chart, forecasts and calendar of releases - was last updated on November of 2022.

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South Korea Exports YoY



Calendar GMT Actual Previous Consensus TEForecast
2022-10-01 12:00 AM Sep 2.8% 6.6% 2.9%
2022-11-01 12:00 AM Oct -5.7% 2.7% -3% -3%
2022-12-01 12:00 AM Nov -5.7%


News Stream
South Korea Exports Drop More than Expected
Exports from South Korea shrank 5.7% yoy to USD 52.48 billion in October 2022, shifting from a 2.7% rise a month earlier and worse than market estimates of a 3% fall, preliminary data showed. This was the first drop in shipments since October 2020 following rises in the previous 23 months, amid deteriorating foreign demand as inflation pressures persist globally. Sales of semiconductors slid 17.4% yoy, due to waning demand and a fall in chip prices. Also, shipments of petrochemicals contracted 25.5%, while those of steel products slipped 20.8%. In contrast, exports of cars climbed by 28.5%, and those of petroleum products increased 7.6%. Exports fell to China (-15.7%), Japan (-13.1%), and the ASEAN countries (-5.8%), but increased to the US (6.6%) and the EU (10.3%). South Korea's industry ministry said that it will mobilize every possible means to revive export momentum.
2022-11-01
South Korea Export Growth at Near 2-Year Low
Exports from South Korea grew by 2.8% yoy to US 57.46 billion in September 2022, easing sharply from a 6.6% rise a month earlier and compared with market consensus of a 2.9% growth, flash data showed. This was the 23rd straight month of increase in shipments but the softest pace in the sequence, amid holiday effects and deteriorating global demand due to persistent inflation pressures. The country has seen its export growth dropped to the single digits since June, reflecting a slowdown in the US, China, and Europe that slowed demand for Korean goods. Sales of automobile gained 34.7% while those of semiconductors and steel fell 5.7% and 21.1%. Exports to the US increased by 16%, while shipments to China and the EU were down each 6.5% and 0.7%. Domestic media said that starting October, Prime Minister Han Duck-soo will hold a meeting regularly to discuss concrete steps to boost exports.
2022-10-01
South Korea Export Growth Eases in August
Exports from South Korea increased by 6.6% yoy to US 56.67 billion in August 2022, slowing from a 9.4% rise a month earlier and compared with market consensus of a 5.5% growth. This marked the third straight month of single-digit growth in exports, amid weak external demand with rising inflation and China’s COVID-19 restrictions, preliminary figures showed. Exports to the US grew by 13.7% from a year earlier. Exports also climbed to India (27.1%), the EU (7.3%), the ASEAN countries (21.7%), and the Middle East (7.3%). Meanwhile, exports to China, South Korea's biggest trading partner, were down 5.4%, amid its economic slowdown. By product, sales of petroleum products and vehicles rose by 113.6% and 35.9%, respectively. Sales also increased for steel products (2.8%), rechargeable batteries (35.7%). By contrast, sales of semiconductors fell by 7.8% from a year earlier.
2022-09-01

South Korea Exports by Country Last Previous
China 12156000.00 13368000.00 USD THO Oct/22
United States 8598000.00 9265000.00 USD THO Oct/22
European Union 5615000.00 5422000.00 USD THO Oct/22
Vietnam 4960000.00 4775000.00 USD THO Oct/22
Japan 2273000.00 2604000.00 USD THO Oct/22
Hong Kong 2015606.00 2871821.00 USD THO Oct/22
Taiwan 1793389.00 1986543.00 USD THO Oct/22
India 1397000.00 1621000.00 USD THO Oct/22
Australia 1392409.00 1607324.00 USD THO Oct/22
Singapore 1328867.00 1986713.00 USD THO Oct/22
Poland 936424.00 602517.00 USD THO Oct/22
Mexico 874977.00 990945.00 USD THO Oct/22
Indonesia 781117.00 918717.00 USD THO Oct/22
Philippines 773767.00 947918.00 USD THO Oct/22
Germany 723519.00 933940.00 USD THO Oct/22
Malaysia 717836.00 913013.00 USD THO Oct/22
Russia 645726.00 512720.00 USD THO Oct/22
Canada 613193.00 621695.00 USD THO Oct/22
Turkey 600452.00 531573.00 USD THO Oct/22
Thailand 576736.00 706774.00 USD THO Oct/22
Netherlands 574456.00 728950.00 USD THO Oct/22
Liberia 482593.00 386311.00 USD THO Oct/22
United Kingdom 465066.00 590926.00 USD THO Oct/22
Hungary 434652.00 487598.00 USD THO Oct/22
France 398916.00 328472.00 USD THO Oct/22
Italy 381543.00 355812.00 USD THO Oct/22
Belgium 367722.00 445980.00 USD THO Oct/22
United Arab Emirates 365731.00 292210.00 USD THO Oct/22
Saudi Arabia 356310.00 435598.00 USD THO Oct/22
New Zealand 346507.00 386416.00 USD THO Oct/22
Brazil 318849.00 447515.00 USD THO Oct/22
Czech Republic 233687.00 284485.00 USD THO Oct/22
Spain 225200.00 281303.00 USD THO Oct/22
Uzbekistan 174537.00 178407.00 USD THO Oct/22
Israel 168373.00 155771.00 USD THO Oct/22
Bangladesh 156351.00 265000.00 USD THO Oct/22
Panama 144112.00 118255.00 USD THO Oct/22
Greece 131904.00 27001.00 USD THO Oct/22
Austria 107956.00 116015.00 USD THO Oct/22
Chile 105084.00 110186.00 USD THO Oct/22
Sweden 102314.00 90856.00 USD THO Oct/22
Nigeria 90035.00 52246.00 USD THO Oct/22
Egypt 89205.00 94096.00 USD THO Oct/22
Jordan 82644.00 74942.00 USD THO Oct/22
Switzerland 81033.00 102179.00 USD THO Oct/22
Pakistan 78743.00 64639.00 USD THO Oct/22
Ireland 73851.00 71907.00 USD THO Oct/22
South Africa 65967.00 74485.00 USD THO Oct/22
Colombia 65876.00 66166.00 USD THO Oct/22
Qatar 61446.00 28792.00 USD THO Oct/22
Denmark 45075.00 50651.00 USD THO Oct/22
Norway 41101.00 54818.00 USD THO Oct/22
Kuwait 41033.00 49173.00 USD THO Oct/22
Portugal 33503.00 51685.00 USD THO Oct/22
Ukraine 28307.00 24773.00 USD THO Oct/22
Oman 28290.00 25119.00 USD THO Oct/22
Finland 27226.00 25931.00 USD THO Oct/22
Argentina 26244.00 27981.00 USD THO Oct/22
Guatemala 22852.00 20987.00 USD THO Oct/22
Iran 13920.00 14786.00 USD THO Oct/22
Sri Lanka 9467.00 13711.00 USD THO Oct/22
Cyprus 4013.00 2437.00 USD THO Oct/22
Venezuela 2383.00 4123.00 USD THO Oct/22
Syria 2365.00 1845.00 USD THO Oct/22
South Korea Exports by Category Last Previous
Heavy Industry Products 43746000.00 47269000.00 USD THO Oct/22
Semi Conductor 9228000.00 11489000.00 USD THO Oct/22
Crude Materials & Fuels 5231000.00 6470000.00 USD THO Oct/22
Kcs - Car 4916000.00 4794000.00 USD THO Oct/22
Passenger Car 4720000.00 4581000.00 USD THO Oct/22
Petroleum & Derivatives 4433000.00 5487000.00 USD THO Oct/22
Kcs - Petroleum Products 4393000.00 5461000.00 USD THO Oct/22
Information & Communications Equipment 4118000.00 4456000.00 USD THO Oct/22
Metal Goods 4016000.00 3969000.00 USD THO Oct/22
Kcs - General Machinery 3917000.00 4011000.00 USD THO Oct/22
Kcs - Petroleum Chemical 3735000.00 4074000.00 USD THO Oct/22
Light Industry Products 2693000.00 2917000.00 USD THO Oct/22
Kcs - Iron and Steel Products 2667000.00 2690000.00 USD THO Oct/22
Kcs - Auto Parts 1841000.00 2014000.00 USD THO Oct/22
Kcs - Wireless Communication Machine 1793000.00 1685000.00 USD THO Oct/22
Kcs - Ship Class 1502000.00 1198000.00 USD THO Oct/22
Ship & Boat 1438000.00 1174000.00 USD THO Oct/22
Heavy Industry Products - Computer 1036000.00 1547000.00 USD THO Oct/22
Kcs - Fiber 922000.00 969000.00 USD THO Oct/22
Kcs - Computer 902000.00 1415000.00 USD THO Oct/22
Food & Direct Consumer Goods 814000.00 791000.00 USD THO Oct/22
Kcs - Appliances 622000.00 665000.00 USD THO Oct/22
Tyres & Inner Tube 259000.00 253000.00 USD THO Oct/22
Light Industry Products - Paper 224000.00 235000.00 USD THO Oct/22
Light Industry Products - Clothing 196000.00 189000.00 USD THO Oct/22
Light Industry Products - Gold 80000.00 147000.00 USD THO Oct/22
Fuels - Use 8320.00 8855.00 USD Million Oct/22
Capital Goods - Use 7849.00 8026.00 USD Million Oct/22
Semi-conductor - Use 5513.00 5437.00 USD Million Oct/22
Chemicals - Use 2048.00 1988.00 USD Million Oct/22
Mineral - Use 571.00 707.00 USD Million Oct/22
Iron & Steel Products - Use 477.00 396.00 USD Million Oct/22
Non-ferrous Metal - Use 417.00 367.00 USD Million Oct/22
Transport Equipment - Use 307.00 279.00 USD Million Oct/22
Consumer Goods - Use 301.00 319.00 USD Million Oct/22
Consumer Durable Goods - Use 203.00 228.00 USD Million Oct/22
Light Industry Input - Use 174.00 187.00 USD Million Oct/22
Textile - Use 101.00 102.00 USD Million Oct/22
Electric Home Appliances - Exports of 49.00 71.00 USD Million Oct/22
Gold - Use 48.00 58.00 USD Million Oct/22
Consumer Nondurable Goods - Exports of 18.00 20.00 USD Million Oct/22
Tobacco - Use 11.00 6.00 USD Million Oct/22
Clothing - Use 4.00 4.00 USD Million Oct/22
Oilpaper - Use 4.00 5.00 USD Million Oct/22
Passenger Car - Use 1.00 0.00 USD Million Oct/22

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