Exports from South Korea increased by 4.5 percent year-on-year to USD 51.92 billion in November of 2018, following a 22.7 percent surge in October and below market consensus of a 6.6 percent gain. It was the second straight month of growth in outbound shipments, amid ongoing trade row between China and the US. Exports of semiconductors jumped 11.6, led by solid sales of chips and storage devices. Also, sales of petrochemical products surged 23.5 percent. In contrast, sales of vehicles fell 2 percent, amid weak demand in the Middle East and tougher environmental regulations in Europe. Exports of displays fell 10 percent, due to a drop in prices of liquid crystal displays. Sales increased 7.9 percent to the US, mainly driven by vehicles, general machinery and semiconductors. In contrast, exports to China, South Korea's top trading partner, shrank 2.5 percent, reaching the first drop in over 2 years, amid sluggish sales of wireless communication equipment and displays. Exports in South Korea averaged 14214.61 USD Million from 1966 until 2018, 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 48100.00 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 51200.00 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.