South Korea Exports

Exports from South Korea fell by 2.7 percent to USD45.3 billion in June of 2016, following a 6.0 percent drop in May while market estimated a 8.3 percent decrease. It was the 18th straight month of decline and the smallest drop in a year. Exports in South Korea averaged 12616.67 USD Million from 1966 until 2016, reaching an all time high of 51600 USD Million in October of 2014 and a record low of 14.75 USD Million in January of 1966. Exports in South Korea is reported by the Ministry of Trade, Industry & Energy (MOTIE). South Korea has an export oriented economy and its exports accounts for more than 50% of GDP. The country exports mainly machinery and transport equipment (59 percent of total exports) such as: electrical machinery, apparatus, appliances and electrical parts (18 percent); road vehicles (13 percent); telecommunications, sound recording; reproducing apparatus and equipment (8 percent). Other exports include: petroleum, petroleum products, related materials (6 percent); iron, steel (4 percent) and plastics (4 percent). Major export partners are China (26 percent of total exports), the United States (13 percent) Hong Kong (6 percent), Vietnam, Japan (5 percent each) and Singapore (3 percent). Others include: India, Taiwan, Mexico, Australia, Saudi Arabia and Philippines. 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.