Exports from South Korea declined by 9.4 pct year-on-year to USD 45.91 billion in May 2019, worse than market consensus of a 5.6 pct drop and much faster than a 2.0 pct fall in April. It marked the sixth straight month of contraction in overseas sales, amid weakening global demand and the prolonged Sino-US trade row well as Brexit uncertainties. Sales of semiconductors tumbled 30.5 pct. In addition, exports of petrochemicals shrank 16.2 pct. On the other hand, sales of ships jumped 44.5 pct. At the same time, shipments of machinery grew 5 pct, with auto exports increasing 13.6 pct. Also, exports rose for rechargeable batteries, electric cars, and organic light-emitting diode (OLED) displays. Exports to China, the largest trading partner for Asia's fourth-largest economy, nosedived 20 pct, the steepest yearly fall since January 2016. Also, sales to the EU fell 12.6 pct. In contrast, outbound shipments to the US advanced 6 pct, led by higher sales of automobiles and home appliances. Exports in South Korea averaged 14510.69 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 50300.00 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 49000.00 in 12 months time. In the long-term, the South Korea Exports is projected to trend around 51700.00 USD Million in 2020, according to our econometric models.

South Korea Exports
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Calendar GMT Actual Previous Consensus TEForecast
2019-03-01 12:00 AM Exports YoY -11.1% -5.9% -10.8%
2019-04-01 12:00 AM Exports YoY -8.2% -11.4% -8.7%
2019-05-01 12:00 AM Exports YoY -2% -8.2% -5%
2019-06-01 12:00 AM Exports YoY -9.4% -2% -5.6%
2019-07-01 12:00 AM Exports YoY -9.4% -12%
2019-08-01 12:00 AM Exports YoY
2019-09-01 12:00 AM Exports YoY


South Korea Trade Last Previous Highest Lowest Unit
Balance of Trade 2271.00 4003.33 13419.36 -4043.46 USD Million [+]
Current Account -660.00 4820.00 12409.70 -3845.00 USD Million [+]
Current Account to GDP 4.70 4.90 10.70 -10.50 percent [+]
Imports 43636.00 44826.01 48480.62 38.61 USD Million [+]
Exports 45907.00 48829.34 55115.24 14.75 USD Million [+]
External Debt 440584.60 440598.50 452718.00 80766.40 USD Million [+]
Terms of Trade 90.50 91.40 228.10 82.90 Index Points [+]
Foreign Direct Investment 3173570.00 7698151.00 10820073.00 0.00 USD Thousand [+]
Capital Flows 363.00 6183.20 12350.90 -3406.90 USD Million [+]
Tourism Revenues 1645900.00 1107900.00 1765400.00 326500.00 USD Million [+]
Tourist Arrivals 1635066.00 1535641.00 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 1083.00 751.00 1083.00 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 June of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
45907.00 48829.34 55115.24 14.75 1966 - 2019 USD Million Monthly




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