South Korea Imports Rise at Fastest Pace Since 2022

2026-06-01 00:04 By Farida Husna 1 min. read

South Korea’s imports jumped 20.8% yoy to USD 60.80 billion in May 2026, accelerating from a 16.7% rise in April, though slightly below market expectations of 21.5%, flash data showed.

The increase marked the seventh straight month of growth and the strongest pace since August 2022, pointing to resilient domestic demand despite lingering trade disruptions linked to the Middle East conflict.

Consumer spending was supported by government stimulus measures launched in April, including the nationwide “Donghaeng Festival,” which featured discount programs, digital vouchers, and partnerships with major retailers to boost consumption.

Energy imports rose 15.9% to USD 11.75 billion.

Although crude oil import volumes fell, their value surged 25% to USD 8.5 billion as higher global oil prices lifted import costs.

Outside the energy sector, imports of semiconductor manufacturing equipment soared 71% to USD 2.56 billion, underscoring continued investment in the country’s key chip industry.



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South Korea Imports Rise at Fastest Pace Since 2022
South Korea’s imports jumped 20.8% yoy to USD 60.80 billion in May 2026, accelerating from a 16.7% rise in April, though slightly below market expectations of 21.5%, flash data showed. The increase marked the seventh straight month of growth and the strongest pace since August 2022, pointing to resilient domestic demand despite lingering trade disruptions linked to the Middle East conflict. Consumer spending was supported by government stimulus measures launched in April, including the nationwide “Donghaeng Festival,” which featured discount programs, digital vouchers, and partnerships with major retailers to boost consumption. Energy imports rose 15.9% to USD 11.75 billion. Although crude oil import volumes fell, their value surged 25% to USD 8.5 billion as higher global oil prices lifted import costs. Outside the energy sector, imports of semiconductor manufacturing equipment soared 71% to USD 2.56 billion, underscoring continued investment in the country’s key chip industry.
2026-06-01
South Korea Import Growth at 3-1/2-Year High
South Korea’s imports rose 16.7% year-on-year to the second-highest on record of USD 62.11 billion in April 2026, accelerating from a 13.2% growth in the previous month and topping market forecasts of 14.5%, according to flash data. The latest result marked a sixth straight month of expansion in inbound shipments and the fastest pace since September 2022, indicating robust domestic demand despite trade flow disruptions tied to the Middle East conflict, with support from Seoul’s successive rounds of household and business stimulus last year. Import growth may stay supported in the near term by solid domestic consumption and restocking needs, though volatility in energy markets and lingering geopolitical risks could lead to uneven trade flows in the coming months.
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South Korea Imports Rise Less than Estimated
South Korea’s imports rose 13.2% year-on-year to USD 60.4 billion in March 2026, the highest amount since September 2022, accelerating from a 7.5% growth in the previous month, according to flash data. The latest result marked a fifth straight month of expansion in inbound shipments, boosted by robust domestic demand after Seoul's multiple rounds of household and business support measures in 2025. However, the pace of import growth was below market forecasts of a 18% gain, partly reflecting lingering uncertainty tied to Middle East tensions. The Iran conflict has driven up global crude oil prices, increasing import bills for energy-reliant South Korea and adding to inflation risks. At the same time, heightened volatility has prompted some firms to delay or scale back orders, tempering overall import growth.
2026-04-01