Imports in Korea
Korea - Imports
Exports continue to dip in August
Merchandise exports plunged 13.6% year-on-year in August, sharper than the 11.0% drop recorded in July, totaling USD 44.2 billion in August (July: USD 46.1 billion). Meanwhile, merchandise imports fell 4.2% in August, compared to July’s 2.7% fall, and totaling USD 42.5 billion (July: USD 43.7 billion). The trade sector remains dejected by heightened external headwinds including a slowdown in global demand for tech products, trade protectionism and flagging prices for semiconductors, which are key exports of Korea.
The merchandise trade surplus narrowed considerably to USD 1.7 billion in August from USD 6.8 billion in the same month a year prior (July 2019: USD 2.4 billion surplus). Meanwhile, the 12-month moving sum of the trade balance narrowed to a USD 48.2 billion surplus in August from the USD 53.3 billion surplus in July.
Going forward, the outlook for Korea’s external sector looks likely to remain in a bad way as the recent escalation of the U.S.-China trade dispute and the South Korea-Japan trade spat should further depress foreign demand. That said, the recent depreciation of the won may provide some stimulus to the flagging sector.
FocusEconomics panelists expect merchandise exports to decline 2.4% and imports to decrease 5.3% in 2019, bringing the trade surplus to USD 83.7 billion. In 2020, exports are expected to increase 3.0% and imports to rise 3.9%, resulting in a trade surplus of USD 81.6 billion.
Korea - Imports Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Imports (USD billion) | 516 | 526 | 436 | 406 | 478 |
Korea Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 1.34 | 1.55 % | Sep 04 |
| Exchange Rate | 1,208 | 0.21 % | Sep 04 |
| Stock Market | 1,989 | -0.40 % | Sep 04 |
Sample Report
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
Economic News
Korea: Inflation hits record low in August
September 3, 2019
Consumer prices increased 0.2% over the prior month in August, contrasting July’s 0.3% fall.
Korea: Exports continue to dip in August
September 2, 2019
Merchandise exports plunged 13.6% year-on-year in August, sharper than the 11.0% drop recorded in July, totaling USD 44.2 billion in August (July: USD 46.1 billion).
Korea: Manufacturing sector downturn eases in August
September 2, 2019
The IHS Markit manufacturing Purchasing Managers’ Index (PMI) increased to 49.0 in August from 47.3 in July, but remained below the 50-threshold that separates expansion from contraction in the manufacturing sector. Output, employment and new orders all declined in August.
Korea: Industrial production rebounds in July
August 30, 2019
Industrial production year-on-year increased 0.6% in July, contrasting June’s 2.6% fall.
Korea: BOK’s base rate on hold in August
August 30, 2019
At its 30 August monetary policy meeting, the Bank of Korea (BOK) voted to keep the base rate unchanged at 1.50%, as widely anticipated by market analysts.
© Copyright: 2019 | Korea Imports | Privacy Policy | Cookies Policy | Terms & Conditions | Sitemap | RSS feed ...
