Exports from South Korea declined by 8.2 percent year-on-year to USD 47.11 billion in March 2019, following an upwardly revised 11.4 percent fall in February which was the steepest fall in three years, and compared with market consensus of a 8.7 percent drop. The decrease in last month’s exports was mostly due to combined effects of external risks and cyclical factors, including slowing global economy, trade dispute between US and China and growing protectionism. Sales of memory chips fell 16.6 pct, as global demand for smartphone slowed on low seasonal demand. Also, exports dropped for petrochemicals (-10.7 pct). In contrast, sales of ships rose 5.4 percent, namely drill ships and liquefied natural gas carriers. Exports to China, South Korea's top trading partner, shrank 15.5 pct, and to Japan declined 12.8 pct, due to declining demand of semiconductors and steel. By contrast, exports to the US grew 4 pct, mainly driven by automobile, machinery and petrochemical products. Exports in South Korea averaged 14408.17 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 50800.00 USD Million in 2020, according to our econometric models.

South Korea Exports
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Calendar GMT Actual Previous Consensus TEForecast
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 -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 -8.2% -8.7%
2019-06-01 12:00 AM Exports YoY
2019-07-01 12:00 AM Exports YoY


South Korea Trade Last Previous Highest Lowest Unit
Balance of Trade 5222.00 2963.60 13419.36 -4043.46 USD Million [+]
Current Account 3601.90 2824.90 12409.70 -3845.00 USD Million [+]
Current Account to GDP 4.70 4.90 10.70 -10.50 percent [+]
Imports 41890.00 36466.00 48480.62 38.61 USD Million [+]
Exports 47110.00 39440.00 55115.24 14.75 USD Million [+]
External Debt 440598.50 449529.10 452718.00 80766.40 USD Million [+]
Terms of Trade 95.90 97.50 237.00 86.10 Index Points [+]
Foreign Direct Investment 3173570.00 7698000.00 10819799.00 0.00 USD Thousand [+]
Capital Flows 3418.80 2973.80 12350.90 -3406.90 USD Million [+]
Tourism Revenues 1107900.00 1085300.00 1765400.00 326500.00 USD Million [+]
Tourist Arrivals 1201802.00 1104803.00 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 April of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
47110.00 39440.00 55115.24 14.75 1966 - 2019 USD Million Monthly




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