Exports YoY in South Korea remained unchanged at 24.15 percent in October from 24.15 percent in October of 2021. source: Ministry of Trade, Industry & Energy (MOTIE)

Exports YoY in South Korea averaged 17.35 percent from 1967 until 2021, reaching an all time high of 148.58 percent in October of 1973 and a record low of -35.77 percent in January of 2009. This page includes a chart with historical data for South Korea Exports YoY. South Korea Exports YoY - data, historical chart, forecasts and calendar of releases - was last updated on November of 2021.

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South Korea Exports YoY

Calendar GMT Actual Previous Consensus TEForecast
2021-10-01 12:00 AM Sep 16.7% 34.8% 16.3%
2021-11-01 12:00 AM Oct 24% 16.7% 27%
2021-12-01 12:00 AM Nov 24% 27.7%

News Stream
South Korea Exports Extend Double-Digit Growth
Exports from South Korea rose by 24.0.7 percent year-on-year to USD 55.55 billion in October 2021, compared with market forecasts of 27.0 percent and after a 16.7 percent growth a month earlier. This was the twelfth straight month of expansion in overseas sales, extending their double-digit growth for the eight month in a row, amid robust foreign demand in the wake of the COVID-19 pandemic. Shipments expanded for semiconductors (28.8 percent), petrochemical products (138.1 percent), and steel (48.8 percent). In contrast, sales of declined 4.7 percent, amid chip shortages and base effects from last year. Sales to all nine major trade partners including China (24.9 percent), the US (22.0 percent), and the EU (19.6 percent) increased for the seventh month in a row.
South Korea Export Growth Eases Sharply
Exports from South Korea rose by 16.7% yoy to USD 53.82 billion in September 2021, slowing noticeably from a 34.8% jump in August and compared with market consensus of 16.3%, preliminary data showed. Still, this was the eleventh straight month of expansion in sales, as foreign demand sustained in the wake of the COVID-19 pandemic. Exports of petrochemicals and petroleum surged 52%, and 79%, respectively. Also, shipments grew for steel products (42%), and semiconductor (28.2%). By contrast, exports fell for cars (-6.1%), ships (-40.5%) and rechargeable batteries (-2%). Shipments increased to China (16.3%), the US (14.5%), Japan (17.2%) and the ASEAN (17%).
South Korea Exports Rise for 10th Month
Exports from South Korea rose 34.9% yoy to USD 53.93 billion in August 2021, compared with market consensus of 35.7% and after a 29.6% growth in July, preliminary data showed. This was the tenth straight month of expansion in sales, amid robust foreign demand in the wake of the COVID-19 pandemic. Exports of semiconductors, petrochemicals, and cars jumped 43.0%, 81.5%, and 16.9%, respectively. In addition, shipments grew for wireless devices (62.2%), bio-health products (17.1%), and secondary batteries (10.9%). Shipments rose to China (26.8%), the US (38%), Japan (44%), the EU (41.6%), and the ASEAN (27.2%).

South Korea Exports YoY
South Korea has an export oriented economy and its exports account for more than 50 percent of GDP. The country's exports tumbled 10.3 percent to USD 542.4 billion in 2019 after reaching a record high in the previous year, due to the US-China trade dispute, Japan's restrictions on exports, Brexit, and Hong Kong protests. Main exports were electrical machinery and equipment (28 percent of total exports), nuclear reactors, boilers, machinery and mechanical (13 percent), road vehicles (12 percent), mineral fuels, mineral oils, bituminous substances (8 percent), plastics and articles thereof (6 percent), iron and steel (4 percent), optical, photographic, cinematographic, measuring (4 percent), organic chemicals (4 percent), and ships and boats (3 percent). China was the largest destination of South Korea's shipments (25 percent of total exports), followed by the US (14 percent), Vietnam (9 percent), Hong Kong (6 percent), Japan (5 percent), Taiwan and India (3 percent each), and Singapore, Mexico, Malaysia, Germany and the Philippines (2 percent each).

South Korea Exports by Country Last Previous
China 14393000.00 14298000.00 USD THO Oct/21
United States 8064000.00 8014000.00 USD THO Oct/21
European Union 5090000.00 5421000.00 USD THO Oct/21
Vietnam 4922000.00 5104000.00 USD THO Oct/21
Hong Kong 2740251.00 3847563.00 USD THO Oct/21
Japan 2601000.00 2529000.00 USD THO Oct/21
Taiwan 2217831.00 2170852.00 USD THO Oct/21
India 1402000.00 1489000.00 USD THO Oct/21
Singapore 1327065.00 1351409.00 USD THO Oct/21
Australia 1027330.00 775857.00 USD THO Oct/21
Malaysia 1023183.00 832161.00 USD THO Oct/21
Philippines 976324.00 922993.00 USD THO Oct/21
Mexico 975005.00 986106.00 USD THO Oct/21
Russia 806367.00 1082312.00 USD THO Oct/21
Germany 792882.00 830338.00 USD THO Oct/21
Indonesia 739627.00 663886.00 USD THO Oct/21
Turkey 715812.00 627080.00 USD THO Oct/21
Thailand 678250.00 644981.00 USD THO Oct/21
Canada 575524.00 496999.00 USD THO Oct/21
France 506145.00 578888.00 USD THO Oct/21
South Korea Exports by Category Last Previous
Heavy Industry Products 46637000.00 47526000.00 USD THO Oct/21
Semi Conductor 11174000.00 12181000.00 USD THO Oct/21
Crude Materials & Fuels 5078000.00 4584000.00 USD THO Oct/21
Kcs - Petroleum Chemical 4989000.00 4785000.00 USD THO Oct/21
Metal Goods 4613000.00 4753000.00 USD THO Oct/21
Kcs - General Machinery 4387000.00 4478000.00 USD THO Oct/21
Information & Communications Equipment 4386000.00 4848000.00 USD THO Oct/21
Petroleum & Derivatives 4080000.00 3518000.00 USD THO Oct/21
Kcs - Petroleum Products 3917000.00 3458000.00 USD THO Oct/21
Kcs - Car 3828000.00 3559000.00 USD THO Oct/21
Passenger Car 3656000.00 3397000.00 USD THO Oct/21
Kcs - Iron and Steel Products 3367000.00 3414000.00 USD THO Oct/21
Light Industry Products 3012000.00 2935000.00 USD THO Oct/21
Kcs - Auto Parts 1785000.00 1854000.00 USD THO Oct/21
Kcs - Wireless Communication Machine 1562000.00 1415000.00 USD THO Oct/21
Kcs - Ship Class 1542000.00 1036000.00 USD THO Oct/21
Ship & Boat 1486000.00 977000.00 USD THO Oct/21
Kcs - Computer 1440000.00 1858000.00 USD THO Oct/21
Heavy Industry Products - Computer 1420000.00 1837000.00 USD THO Oct/21
Kcs - Fiber 1143000.00 1025000.00 USD THO Oct/21

United Nations Comtrade Database
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