The barchart show only products that South Korea is not specialized in.The product space is a network connecting products that are likely to be co-exported. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. South Korea's exports likely contracted for a fifth straight month in July as global demand remained weak despite the easing of coronavirus-related lockdowns, a Reuters poll showed on Wednesday. Now other countries are hoping to benefit from Korea… Download historical data for 20 million indicators using your browser.Direct access to our calendar releases and historical data. 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). Exports from South Korea tumbled 23.7 percent from a year earlier to USD 34.86 billion in May 2020, the lowest level since February 2010, compared with market consensus of a 22.1 percent fall, as the coronavirus pandemic hit global demand. South Korea’s exports fell in April by the most since the global financial crisis, offering an early indication of how the coronavirus pandemic is slamming world trade. On the other hand, shipments of semiconductors, the nation's top export, climbed 5.6 percent, while those of computers and ships surged 77.1 percent and 18.0 percent, respectively. Meanwhile, sales of semiconductors, ships, computers and bio-health products jumped. 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). The top imports of South Korea are Crude Petroleum ($74.8B), Integrated Circuits ($32B), Petroleum Gas ($23B), Refined Petroleum ($20.2B), and Coal Briquettes ($14.1B).
Trade: The top exports of South Korea are Integrated Circuits ($113B), Refined Petroleum ($43.6B), Cars ($38.7B), Vehicle Parts ($19B), and Office Machine Parts ($18.8B).
The top services exported by South Korea in 2018 were Transportation ($27.7B), Other business services ($21.7B), Travel ($15.3B), Construction services ($12.7B), and Royalties and license fees ($7.75B).The top services imported by South Korea in 2018 were Other business services ($32.9B), Transportation ($32.1B), Travel ($32B), Royalties and license fees ($9.88B), and Construction services ($3.27B).This section shows forecasts for total product exports and imports for South Korea. During the last five reported years the imports of South Korea changed by $12.6B from $497B in 2013 to $509B in 2018.In 2018, South Korea exported $96.3B worth of services. Among major trade partners, exports declined to the EU (-11.1 percent), but rose to the US (7.7 percent), the first increase since the outbreak, and China (2.5 percent).Exports from South Korea tumbled 10.9 percent from a year earlier to USD 39.2 billion in June 2020, compared with market consensus of a 7.8 percent fall. South Korea's mass testing helped keep its outbreak under control. In contrast, sales of health products jumped 29%, amid soaring demand for test kits for COVID-19. TEForecast Among major trade partners, exports declined to the US (-8.3 percent), the EU (-17 percent), Japan (-17.8 percent). South Korea has highly positive net exports in the international trade of electronic integrated circuits and microassemblies as well as phone system devices including cellular and landline phones. Also, exports plunged for oil products (-56.8%), car components (-49.6%), and wireless devices (-33.4%).
It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. The COVID-19 crisis sent South Korean exports plunging last month at their sharpest pace since the global financial crisis, signaling a bleak outlook for international trade as the pandemic paralyzes the world economy and shatters demand. Sales were sharply down for automobiles (-54.1 percent) and auto parts (-66.7 percent), general machinery (-27.8 percent), petrochemicals (-34.3 percent), petroleum products (-69.9 percent), steel (-34.8 percent), display (-29.7 percent), textiles (-43.5 percent), wireless communication devices (-22.2 percent) and home appliances (-37.0 percent). It was the fourth straight month of decline in exports, as the coronavirus pandemic hit global demand.
Relatedness measures the distance between a country's current exports and each product. Sales of semiconductors, the country's top exports, fell by 14.9%. This section shows exports and imports data at subnational level for South Korea. It was the fifth straight month of decline in exports, but the smallest since March, as global demand gradually recovers following the easing of coronavirus-induced lockdown measures. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. 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.