Imports to South Korea jumped 37.8 percent year-on-year to a fresh record high of USD 53.86 billion in October 2021, compared with market expectations of 40.1 percent and following a 31.0 percent advance a month earlier, boosted by solid domestic demand following an acceleration in COVID-19 vaccinations. source: Ministry of Trade, Industry & Energy (MOTIE)
Imports YoY in South Korea averaged 15.56 percent from 1967 until 2021, reaching an all time high of 115.60 percent in February of 1974 and a record low of -43.90 percent in July of 1998. This page includes a chart with historical data for South Korea Imports YoY. South Korea Imports YoY - data, historical chart, forecasts and calendar of releases - was last updated on November of 2021.
South Korea Imports Hit New Peak
South Korea Imports Rise More than Estimated
South Korea Import Growth Accelerates
South Korea Imports YoY
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).