Exports from South Korea declined by 5.8 percent year-on-year to USD 46.35 billion in January of 2019, following a 1.3 percent fall in a month earlier while markets had expected a 7 percent drop. It marked the second straight month of decrease in outbound shipments and the steepest since September 2018, amid ongoing trade conflict between China and the US and lower cost of oil and semiconductors. Sales of memory chips tumbled 23.3 pct, as global tech firms postponed purchases for inventory control purposes. Also, exports dropped for petrochemicals (-5.3 pct) and petroleum products (-4.8 pct), amid a decline in crude oil prices. Conversely, exports grew for secondary batteries (14.5 percent), automobile (13.4 pct), steel products (3.3 pct), and machinery (1.7 pct). Exports to China, South Korea's top trading partner, contracted 19.1 pct. In contrast, outbound shipments grew to the US (20.4 pct), the EU countries (11.9 pct) and the ASEAN countries (6.4 pct). Exports in South Korea averaged 14318.06 USD Million from 1966 until 2019, reaching an all time high of 55115.24 USD Million in September of 2017 and a record low of 14.75 USD Million in January of 1966.

Exports in South Korea is expected to be 49100.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Exports in South Korea to stand at 51800.00 in 12 months time. In the long-term, the South Korea Exports is projected to trend around 50800.00 USD Million in 2020, according to our econometric models.

South Korea Exports
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Calendar GMT Actual Previous Consensus TEForecast
2018-11-01 12:00 AM Exports YoY 22.7% -8.2% 17%
2018-12-01 12:00 AM Exports YoY 4.5% 22.7% 6.6%
2019-01-01 12:00 AM Exports YoY -1.2% 4.1% 3.3%
2019-02-01 12:00 AM Exports YoY -5.8% -1.3% -7% -15%
2019-03-01 12:00 AM Exports YoY -5.8% -7%
2019-04-01 12:00 AM Exports YoY
2019-05-01 12:00 AM Exports YoY


South Korea Trade Last Previous Highest Lowest Unit
Balance of Trade 1336.00 4342.47 13419.36 -4043.46 USD Million [+]
Current Account 4819.30 5223.60 12409.70 -3845.00 USD Million [+]
Current Account to GDP 5.60 7.00 10.70 -10.50 percent [+]
Imports 45016.00 44036.84 48477.71 38.61 USD Million [+]
Exports 46352.00 48379.31 55115.24 14.75 USD Million [+]
External Debt 449529.10 440543.60 452718.00 80766.40 USD Million [+]
Terms of Trade 98.90 97.90 237.00 86.10 Index Points [+]
Foreign Direct Investment 7698000.00 3448981.00 10819799.00 0.00 USD Thousand [+]
Capital Flows 5585.20 3861.80 12350.90 -3406.90 USD Million [+]
Tourism Revenues 1238700.00 1261800.00 1765400.00 326500.00 USD Million [+]
Tourist Arrivals 1324119.00 1350390.00 1703495.00 213006.00 [+]
Gold Reserves 104.40 104.40 104.44 13.00 Tonnes [+]
Terrorism Index 0.29 0.61 2.62 0.00 [+]
Weapons Sales 587.00 585.00 587.00 7.00 USD Million [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category



South Korea Exports

South Korea has an export oriented economy and its exports accounts for more than 50% of GDP. The country exports mainly machinery and transport equipment (59 percent of total exports) such as: electrical machinery, apparatus, appliances and electrical parts (18 percent); road vehicles (13 percent); telecommunications, sound recording; reproducing apparatus and equipment (8 percent). Other exports include: petroleum, petroleum products, related materials (6 percent); iron, steel (4 percent) and plastics (4 percent). Major export partners are China (26 percent of total exports), the United States (13 percent) Hong Kong (6 percent), Vietnam, Japan (5 percent each) and Singapore (3 percent). Others include: India, Taiwan, Mexico, Australia, Saudi Arabia and Philippines. This page provides the latest reported value for - South Korea Exports - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. South Korea Exports - actual data, historical chart and calendar of releases - was last updated on February of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
46352.00 48379.31 55115.24 14.75 1966 - 2019 USD Million Monthly




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