Imports in South Korea increased to 49653 USD Million in March from 42105 USD Million in February of 2021. source: Ministry of Trade, Industry & Energy (MOTIE)

Imports in South Korea averaged 14344.74 USD Million from 1966 until 2021, reaching an all time high of 49653 USD Million in March of 2021 and a record low of 38.61 USD Million in January of 1966. This page provides the latest reported value for - South Korea Imports - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. South Korea Imports - data, historical chart, forecasts and calendar of releases - was last updated on April of 2021.

Imports in South Korea is expected to be 42000.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Imports in South Korea to stand at 44000.00 in 12 months time. In the long-term, the South Korea Imports is projected to trend around 45000.00 USD Million in 2022, according to our econometric models.

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South Korea Imports

Actual Previous Highest Lowest Dates Unit Frequency
49653.00 42105.00 49653.00 38.61 1966 - 2021 USD Million Monthly

Calendar GMT Actual Previous Consensus TEForecast
2021-01-01 12:00 AM Dec 1.8% -2.1% -2.6% -3.2%
2021-02-01 12:00 AM Jan 3.1% 2.2% 1.9%
2021-03-01 12:00 AM Feb 13.9% 3.6% 12.3%
2021-04-01 12:00 AM Mar 18.8% 14.1% 17.5%

News Stream
South Korea Imports Rise More than Estimated
Imports to South Korea surged 18.8 percent year-on-year to USD 49.6 billion in March of 2021, accelerating from an upwardly revised 14.1 percent gain in February and beating market expectations of a 17.5 percent growth, as domestic demand improved further on the back of a further recovery in the economy from the worst of COVID-19 shocks, a preliminary estimate showed.
South Korea Imports Jump
Imports to South Korea surged 13.9 percent year-on-year to USD 42.11 billion in February of 2021, accelerating from a 3.6 percent gain in January and beating market expectations of a 12.3 percent growth, as domestic demand improved on the back of a further recovery in the economy from the worst of COVID-19 shocks, a preliminary estimate showed.
South Korea Imports Grow More than Estimated
Imports to South Korea rose by 3.1 percent year-on-year to USD 44.05 billion in January 2021, after a 2.2 percent gain a month earlier and beating market consensus of a 1.9 percent growth, amid a further recovery in domestic demand in the wake of COVID-19 shocks, a preliminary estimate showed. In 2020, inbound shipments fell 7.2 percent to USD 467.2 billion.
South Korea Imports Unexpectedly Rise in December
Imports to South Korea unexpectedly increased 1.8 percent year-on-year to USD 44.4 billion in December 2020, after a 2.1 percent decline in November and missing market expectations of a 2.6 percent fall, a preliminary estimate showed. Considering the full year of 2020, imports were down 7.2 percent from a year earlier to USD 467.2 billion, as domestic demand remained under pressure amid efforts to contain the coronavirus pandemic.

South Korea Imports
In 2019 imports to South Korea dropped 6 percent to USD 503.2 billion from the previous year's all-time high, as domestic production and facility investment dwindled. Main imports were mineral fuels, mineral oils, bituminous substances (25 percent of total imports), electrical machinery and equipment (18 percent), nuclear reactors, boilers, machinery and mechanical (10 percent), optical, photographic, cinematographic, measuring (4 percent), road vehicles (3 percent), iron and steel (3 percent), ores, slag, ash (3 percent), organic chemicals (3 percent), plastics and articles thereof (2 percent), miscellaneous chemicals products (2 percent), and inorganic chemicals, compounds of precious metals (2 percent). China was the biggest source of imports (21 percent of total imports), followed by the US (12 percent), Japan (9 percent), Saudi Arabia, Vietnam, Australia and Germany (4 percent each), Taiwan, Russia and Qatar (3 percent each), and Kuwait, Malaysia, the UAE and Indonesia (2 percent each).
South Korea Imports by Country Last Previous
China 10878000.00 9012000.00 USD THO Mar/21
United States 6216000.00 5702000.00 USD THO Mar/21
European Union 6059000.00 4282000.00 USD THO Mar/21
Japan 4863000.00 4107000.00 USD THO Mar/21
Australia 2686179.00 2203356.00 USD THO Mar/21
Taiwan 1968198.00 1766341.00 USD THO Mar/21
Germany 1929980.00 1433310.00 USD THO Mar/21
Saudi Arabia 1489063.00 1569219.00 USD THO Mar/21
Russia 1125182.00 876800.00 USD THO Mar/21
Netherlands 1083247.00 574033.00 USD THO Mar/21
Singapore 1017607.00 762164.00 USD THO Mar/21
Malaysia 835249.00 779157.00 USD THO Mar/21
Italy 782615.00 566395.00 USD THO Mar/21
Indonesia 764600.00 746721.00 USD THO Mar/21
Mexico 699219.00 536854.00 USD THO Mar/21
Qatar 678471.00 1015851.00 USD THO Mar/21
Kuwait 637270.00 429493.00 USD THO Mar/21
India 631000.00 466000.00 USD THO Mar/21
United Arab Emirates 628039.00 664140.00 USD THO Mar/21
Thailand 599547.00 493349.00 USD THO Mar/21
South Korea Imports by Category Last Previous
Crude Materials & Fuels 22793000.00 20446000.00 USD THO Mar/21
Capital Goods 18164000.00 14796000.00 USD THO Mar/21
Crude Materials & Fuels - Fuel 9309000.00 9502000.00 USD THO Mar/21
Consumer Goods 8694000.00 6951000.00 USD THO Mar/21
Chemicals 5162000.00 4057000.00 USD THO Mar/21
Semi-conductor 4845000.00 4218000.00 USD THO Mar/21
Crude Petroleum 4498000.00 4219000.00 USD THO Mar/21
Consumer Goods - Durable Consumer Goods 3760000.00 3001000.00 USD THO Mar/21
Information & Communication Equipment 2798000.00 2319000.00 USD THO Mar/21
Crude Materials & Fuels - Minerals 2351000.00 2145000.00 USD THO Mar/21
Capital Goods - Transport Equipment 985000.00 845000.00 USD THO Mar/21
Consumer Goods - Cereals 700000.00 548000.00 USD THO Mar/21
Crude Materials & Fuels - Textile 414000.00 311000.00 USD THO Mar/21
Consumer Goods - Durable Cons Goodsgold 324000.00 214000.00 USD THO Mar/21
Crude Materials & Fuels - Oilpaper 148000.00 169000.00 USD THO Mar/21
Domestic Use 34433.00 29495.00 USD Million Mar/21
Capital Goods - Domestic Use 12540.00 10009.00 USD Million Mar/21
Consumer Goods - Domestic Use 8268.00 6658.00 USD Million Mar/21
Capital Goods - Use 5624.00 4787.00 USD Million Mar/21
Fuels - Use 5277.00 4653.00 USD Million Mar/21

United Nations Comtrade Database
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