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%). source: Ministry of Trade, Industry & Energy (MOTIE)

Exports in South Korea averaged 15839.44 USD Million from 1966 until 2021, reaching an all time high of 55826 USD Million in September of 2021 and a record low of 14.75 USD Million in January of 1966. 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 - data, historical chart, forecasts and calendar of releases - was last updated on October of 2021.

Exports in South Korea is expected to be 49700.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Korea Exports is projected to trend around 51700.00 USD Million in 2022, according to our econometric models.

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South Korea Exports


Calendar GMT Actual Previous Consensus TEForecast
2021-07-01 12:00 AM Jun 39.7% 45.6% 33.6%
2021-08-01 12:00 AM Jul 29.6% 39.7% 30.2%
2021-09-01 12:00 AM Aug 34.9% 29.6% 35.7%
2021-10-01 12:00 AM Sep 16.7% 34.8% 16.3%


News Stream
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%).
2021-10-01
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%).
2021-09-01
South Korea Exports Rise Less than Expected
Exports from South Korea advanced 29.6% yoy to a record high of USD 55.4 billion in July 2021, but below market forecasts of a 30.2% growth and after a 39.7% jump in June. This was the ninth straight month of increase in outbound shipments, amid strengthening overseas demand in the aftermath of the COVID- crisis. Sales of chips, the country's top export, surged 39.6%, while those of petrochemicals and petroleum jumped 60 % and 73%, respectively. Exports also grew for the bio-health sector (27.2%) and rechargeable batteries (30%). At the same time, sales of cars rose by 12.3 percent. Shipments to China soared 15.7%, while those to the US gained 32%. Sales also rose to Japan (28%). Meanwhile, sales to the EU and the ASEAN countries jumped 44.0% and 36.8%, respectively.
2021-08-01
South Korea Exports Rise More than Estimated
Exports from South Korea expanded 30.7% yoy to USD their highest since October 2018 of USD 54.80 billion in June 2021, above market forecasts of a 33.6% growth and after a 45.6% rise in May. This was the eighth straight month of increase in outbound shipments, amid strengthening overseas demand in the aftermath of the COVID- crisis. Sales of chips, the country's top export, soared 34.4%, while those of cars and petroleum products surged 62.5% and 79.6%, respectively. Exports also grew for the bio-health sector (13.5%) and rechargeable batteries (39.4%). Shipments to China jumped 14.3%, while those to the US gained 51.9%. Sales also rose to the EU (65.3%).
2021-07-01

South Korea Last Unit Reference Previous Highest Lowest
Balance of Trade 4200.00 USD Million Sep/21 1650.00 13419.36 -4043.46
Imports 51624.00 USD Million Sep/21 51564.90 53649.73 38.61
Exports 55826.00 USD Million Sep/21 53211.12 55826.00 14.75


South Korea Exports
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 14298000.00 13874000.00 USD THO Sep/21
United States 8014000.00 7706000.00 USD THO Sep/21
European Union 5421000.00 5044000.00 USD THO Sep/21
Vietnam 5104000.00 4854000.00 USD THO Sep/21
Hong Kong 3847563.00 3415369.00 USD THO Sep/21
Japan 2529000.00 2536000.00 USD THO Sep/21
Taiwan 2170852.00 2141669.00 USD THO Sep/21
India 1489000.00 1317000.00 USD THO Sep/21
Singapore 1351409.00 1115771.00 USD THO Sep/21
Russia 1082312.00 675604.00 USD THO Sep/21
Mexico 986106.00 1024790.00 USD THO Sep/21
Philippines 922993.00 820021.00 USD THO Sep/21
Malaysia 832161.00 712399.00 USD THO Sep/21
Germany 830338.00 787172.00 USD THO Sep/21
Australia 775857.00 679039.00 USD THO Sep/21
Indonesia 663886.00 643224.00 USD THO Sep/21
Thailand 644981.00 693432.00 USD THO Sep/21
Turkey 627080.00 633747.00 USD THO Sep/21
Netherlands 585181.00 427342.00 USD THO Sep/21
France 578888.00 251312.00 USD THO Sep/21
South Korea Exports by Category Last Previous
Heavy Industry Products 47526000.00 45379000.00 USD THO Sep/21
Semi Conductor 12181000.00 11727000.00 USD THO Sep/21
Information & Communications Equipment 4848000.00 4314000.00 USD THO Sep/21
Kcs - Petroleum Chemical 4785000.00 4978000.00 USD THO Sep/21
Metal Goods 4753000.00 4458000.00 USD THO Sep/21
Crude Materials & Fuels 4584000.00 4302000.00 USD THO Sep/21
Kcs - General Machinery 4478000.00 4066000.00 USD THO Sep/21
Kcs - Car 3559000.00 3032000.00 USD THO Sep/21
Petroleum & Derivatives 3518000.00 3129000.00 USD THO Sep/21
Kcs - Petroleum Products 3458000.00 3085000.00 USD THO Sep/21
Kcs - Iron and Steel Products 3414000.00 3155000.00 USD THO Sep/21
Passenger Car 3397000.00 2864000.00 USD THO Sep/21
Light Industry Products 2935000.00 2751000.00 USD THO Sep/21
Kcs - Computer 1858000.00 1651000.00 USD THO Sep/21
Kcs - Auto Parts 1854000.00 1583000.00 USD THO Sep/21
Heavy Industry Products - Computer 1837000.00 1608000.00 USD THO Sep/21
Kcs - Wireless Communication Machine 1415000.00 1352000.00 USD THO Sep/21
Kcs - Ship Class 1036000.00 1626000.00 USD THO Sep/21
Kcs - Fiber 1025000.00 942000.00 USD THO Sep/21
Ship & Boat 977000.00 1592000.00 USD THO Sep/21

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