Latest reading: Merchandise exports increased 4.4% year-on-year in August (July: +7.2% year-on-year). The figure marked the softest expansion since February...
Merchandise Imports in Korea
Merchandise imports in Korea were worth USD 632 billion in 2024, compared to USD 526 billion ten years earlier, and they averaged USD 543 billion over the last decade. For more information on imports, visit our dedicated page.
Korea Merchandise Imports Chart
Note: This chart displays Imports (USD billion) for Korea from 2024 to 2023.
Source: Macrobond.
Korea Merchandise Imports Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Merchandise Imports (USD bn) | 468 | 615 | 731 | 643 | 632 |
| Merchandise Imports (ann. var. %) | -7.1 | 31.5 | 18.9 | -12.1 | -1.7 |
Merchandise exports rise at a slower rate in August
Latest reading: Merchandise exports increased 1.3% year-on-year in August (July: +5.8% year-on-year). This was less than half market expectations, with exports to the U.S. falling by double digits due to tariffs. Once again, semiconductors buoyed overall exports thanks to surging global AI demand. Meanwhile, merchandise imports fell 4.0% over the same month last year in August (July: +0.7% yoy). As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 6.5 billion surplus in August (July 2025: USD 6.6 billion surplus; August 2024: USD 3.6 billion surplus). Lastly, the trend improved, with the 12-month trailing merchandise trade balance recording a USD 62.6 billion surplus in August, compared to the USD 59.7 billion surplus in July.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Korean merchandise imports projections for the next ten years from a panel of 5 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable merchandise imports forecast available for Korean merchandise imports.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Korean merchandise imports projections.
Want to get access to the full dataset of Korean merchandise imports forecasts? Send an email to info@focus-economics.com.
Latest Global Trade News
-
China: Merchandise exports increase in August -
Taiwan: Merchandise exports continue to surge in August Latest reading: Merchandise exports soared 34.1% over the same month last year in August, on the heels of July’s 42.0%... -
Korea: Merchandise exports rise at a slower rate in August Latest reading: Merchandise exports increased 1.3% year-on-year in August (July: +5.8% year-on-year). This was less than half market expectations, with... -
Philippines: Merchandise exports grow at a more moderate pace in July Latest reading: Merchandise exports jumped 17.3% in annual terms in July (June: +26.9% year-on-year). Meanwhile, merchandise imports expanded 2.3% on... -
Thailand: Merchandise exports growth slows in July Latest reading: Merchandise exports climbed 9.6% year on year in July, on the heels of June’s 16.0% upturn. The figure... -
Mexico: Merchandise exports rise at a more moderate rate in July Latest reading: Merchandise exports rose 4.0% annually in July (June: +10.6% year-on-year) on stronger sales of manufactured and mining goods.... -
Indonesia: Merchandise exports gain steam in June Latest reading: Merchandise exports shot up 13.1% in annual terms in June, on the heels of May’s 9.3% increase. Meanwhile,...