Imports to South Korea dropped 16.3 percent year-on-year to USD 35.54 billion in August 2020, the sixth month of decline in a row and compared with market forecasts of a 15.2 percent fall, a preliminary estimate showed. Domestic demand remained under pressure amid a resurgence in coronavirus cases across the country.

Imports in South Korea averaged 14040.76 USD Million from 1966 until 2020, reaching an all time high of 48480.62 USD Million in October of 2018 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 September of 2020. source: Ministry of Trade, Industry & Energy (MOTIE)

Imports in South Korea is expected to be 40500.00 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 45000.00 in 12 months time. In the long-term, the South Korea Imports is projected to trend around 45900.00 USD Million in 2021, according to our econometric models.

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South Korea Imports

Actual Previous Highest Lowest Dates Unit Frequency
35540.00 38693.49 48480.62 38.61 1966 - 2020 USD Million Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-06-01 12:00 AM May -21.1% -15.8% -17.9%
2020-07-01 01:00 AM Jun -11.4% -21.1% -9.6%
2020-08-01 12:00 AM Jul -11.9% -11.4% -11.5%
2020-09-01 12:00 AM Aug -16.3% -11.6% -15.2%


News Stream
South Korea Imports Fall More than Expected
Imports to South Korea dropped 16.3 percent year-on-year to USD 35.54 billion in August 2020, the sixth month of decline in a row and compared with market forecasts of a 15.2 percent fall, a preliminary estimate showed. Domestic demand remained under pressure amid a resurgence in coronavirus cases across the country.
2020-09-01
South Korea Imports Drop Slightly More than Expected
Imports to South Korea declined by 11.9 percent year-on-year to USD 38.6 billion in July 2020, compared with market forecasts of an 11.5 percent fall and after an 11.4 percent drop a month earlier, a preliminary estimate showed. Domestic demand remained under pressure amid a spike in coronavirus cases.
2020-08-01
South Korea Imports Fall More than Expected
Imports to South Korea plummeted 11.4 percent year-on-year to USD 35.5 billion in June 2020, compared with market forecasts of a 9.6 percent slump, amid efforts to contain the coronavirus pandemic.
2020-07-01
South Korea Imports Tumble to 3-1/2-Year Low
Imports to South Korea plummeted 21.1 percent year-on-year to USD 34.42 billion in May 2020, the lowest level since September 2016, compared with market forecasts of a 17.9 percent slump. It was also the largest decline in purchases since September 2015, as efforts to contain the coronavirus pandemic hit domestic demand. There was a sharp decline in energy imports led by crude oil (-68.4 percent), coal (-36.1 percent) and gas (-9.1 percent), while increases were seen in semiconductor-related imports such as semiconductor manufacturing equipment (167.8 percent).
2020-06-01

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 8249000.00 9178000.00 USD THO Aug/20
United States 4596000.00 4384000.00 USD THO Aug/20
European Union 4433000.00 4969000.00 USD THO Aug/20
Japan 3384000.00 3816000.00 USD THO Aug/20
Taiwan 1476969.00 1611203.00 USD THO Aug/20
Germany 1411886.00 1562785.00 USD THO Aug/20
Australia 1208076.00 1395843.00 USD THO Aug/20
Saudi Arabia 1114750.00 1614654.00 USD THO Aug/20
Malaysia 712258.00 690595.00 USD THO Aug/20
Russia 675295.00 809513.00 USD THO Aug/20
Singapore 669752.00 870628.00 USD THO Aug/20
Italy 587850.00 663913.00 USD THO Aug/20
Qatar 566199.00 471959.00 USD THO Aug/20
Kuwait 501844.00 325348.00 USD THO Aug/20
France 499816.00 624007.00 USD THO Aug/20
Indonesia 477989.00 710206.00 USD THO Aug/20
United Kingdom 468427.00 301662.00 USD THO Aug/20
United Arab Emirates 403496.00 565840.00 USD THO Aug/20
Thailand 391598.00 436468.00 USD THO Aug/20
India 370000.00 341000.00 USD THO Aug/20
South Korea Imports by Category Last Previous
Crude Materials & Fuels 14527000.00 16137000.00 USD THO Aug/20
Capital Goods 14225000.00 15624000.00 USD THO Aug/20
Consumer Goods 6983000.00 6933000.00 USD THO Aug/20
Crude Materials & Fuels - Fuel 5987000.00 6287000.00 USD THO Aug/20
Semi-conductor 4510000.00 4660000.00 USD THO Aug/20
Crude Petroleum 3500000.00 3321000.00 USD THO Aug/20
Chemicals 3401000.00 3816000.00 USD THO Aug/20
Consumer Goods - Durable Consumer Goods 2946000.00 2627000.00 USD THO Aug/20
Information & Communication Equipment 2086000.00 2343000.00 USD THO Aug/20
Crude Materials & Fuels - Minerals 1440000.00 1712000.00 USD THO Aug/20
Capital Goods - Transport Equipment 1079000.00 977000.00 USD THO Aug/20
Consumer Goods - Cereals 472000.00 642000.00 USD THO Aug/20
Crude Materials & Fuels - Textile 337000.00 400000.00 USD THO Aug/20
Consumer Goods - Durable Cons Goodsgold 110000.00 89000.00 USD THO Aug/20
Crude Materials & Fuels - Oilpaper 89000.00 137000.00 USD THO Aug/20
Domestic Use 24094.00 26443.00 USD Million Aug/20
Capital Goods - Domestic Use 8738.00 10011.00 USD Million Aug/20
Consumer Goods - Domestic Use 6717.00 6645.00 USD Million Aug/20
Capital Goods - Use 5487.00 5614.00 USD Million Aug/20
Semi-conductor - Use 3654.00 3730.00 USD Million Aug/20

United Nations Comtrade Database
Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category