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.