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Monitor Report of SOUTH KOREA trade and SOUTH KOREA-China binational trade in 202001

 1.  Overview the trade of SOUTH KOREA in goods current year until 202001

According to Dalian Infobank, in 202001SOUTH KOREA's exports and imports of goods amounted to 85845.1037 million, and were down 5.90% comparing with the same period of last year. Among these, exports were down 6.51% at 43109.4657 million, and imports were down 5.28% at 42735.6380 million. And the corresponding trade surplus was 373.8277 million and down 62.43%.

During the current year until 202001, SOUTH KOREA's total exports and imports of goods were 85845.1037 million and were down 5.90% comparing to the same period of last year. Among these, exports were 43109.4657 million and down 6.51%; imports were 42735.6380 million and down 5.28%. The total trade surplus was 373.8277 million and down 62.43%.

If considering by country (region), CHINA, UNITED STATES, VIETNAM, JAPAN, MALAYSIA were SOUTH KOREA's top five trading partners. During the current year until 202001, SOUTH KOREA's imports and exports to five countries/territories were 19068.8520 million, 11319.6876 million, 5926.0779 million, 5597.8541 million, 3247.4527 million. These values correspond to 22.21%, 13.19%, 6.90%, 6.52%, 3.78% of SOUTH KOREA's imports and exports, and, respectively, were down 9.79%, down 1.55%, down 0.98%, down 16.01%, up 76.64% comparing to the same period of last year.

Current year until 202001, SOUTH KOREA and the top five trade partners CHINA, UNITED STATES, VIETNAM, JAPAN, MALAYSIA are the top five countries/territories that SOUTH KOREA exports to in terms of the total export amount. During the current year until 202001, SOUTH KOREA's exports to these five countries/territories were 9642.9893 million, 5740.5342 million, 4082.3470 million, 2434.7830 million, 2277.6947 million. These values correspond to 22.37%, 13.32%, 9.47%, 5.65%, 5.28% of SOUTH KOREA's exports and, respectively, were down 10.88%, down 7.53%, up 1.41%, down 6.94%, up 141.62% comparing with the same period of last year.

Current year until 202001, SOUTH KOREA's exports to top five countries/territories CHINA, UNITED STATES, JAPAN, SAUDI ARABIA, AUSTRALIA are the top five countries/territories that SOUTH KOREA imports from in terms of the total export amount. During the current year until 202001, SOUTH KOREA's imports from these five countries/territories were 9425.8627 million, 5579.1534 million, 3163.0710 million, 2039.7757 million, 1915.6590 million. These values correspond to 22.06%, 13.06%, 7.40%, 4.77%, 4.48% of SOUTH KOREA's total imports and, respectively, were down 8.64%, up 5.45%, down 21.87%, up 15.13%, down 6.24% comparing with the same period of last year.

During the current year until 202001, the trade surplus of SOUTH KOREA was mainly from VIETNAM, HONG KONG, MALAYSIA, INDIA, LIBERIA at 2238.6162 million, 2067.1569 million, 1307.9367 million, 661.0402 million, 573.1872 million, and up 8.34%, up 0.23%, up 2686.92%, down 30.69%, up 5624.24%. And the trade deficits were mainly from SAUDI ARABIA, AUSTRALIA, QATAR, RUSSIA, JAPAN at 1783.9064 million, 1361.9877 million, 1060.1355 million, 742.9270 million, 728.2880 million, and up 14.57%, up 2.00%, down 15.17%, up 45.33%, down 49.16%.

Current year until 202001, SOUTH KOREA's trade surplus or deficit with top five countries/territories During the current year until 202001,  commodities with hs2 codes, 85, 27, 84, 87, 39, were SOUTH KOREA's top five traded commodities. They correspond to the import and export values of 19183.1354 million, 15561.4721 million, 9686.8419 million, 5478.0794 million, 3457.6618 million, which were down 3.71%, up 3.73%, down 11.40%, down 17.65%, down 13.30% comparing with the same period of last year and account for 22.35%, 18.13%, 11.28%, 6.38%, 4.03% of SOUTH KOREA's total imports and exports.

During the current year until 202001, 85, 84, 87, 27, 89 were SOUTH KOREA's top five traded commodities, with total import and export values of 11850.4074 million, 5593.4000 million, 4417.9744 million, 3479.6894 million, 2751.9920 million. These values correspond to 27.49%, 12.97%, 10.25%, 8.07%, 6.38% of SOUTH KOREA's total exports and, respectively, were down 4.17%, down 6.50%, down 19.03%, down 6.20%, up 64.48% comparing to the same period of last year.

During the current year until 202001, 27, 85, 84, 90, 26 were SOUTH KOREA's top five traded commodities, with total import values of 12081.7826 million, 7332.7281 million, 4093.4419 million, 1424.9141 million, 1300.3481 million. These values correspond to 28.27%, 17.16%, 9.58%, 3.33%, 3.04% of SOUTH KOREA's total exports and, respectively, were up 6.99%, down 2.95%, down 17.32%, down 3.89%, up 6.29% comparing to the same period of last year.


2. Current year until 202001, SOUTH KOREA binational trade profile

According to Dalian Infobank, during the current year until 202001, SOUTH KOREA-China binational exports and imports of goods amounted to 19068.8520 million and were down 9.79% comparing with the same period of last year. Among these, exports from SOUTH KOREA to China were 9642.9893 million and down 10.88%, imports from China to SOUTH KOREA were 9425.8627 million and down 8.64%. The total binational trade surplus was 217.1266 million and down 56.82%.

During the urrent year until 202001, commodities with hs2 code, 85, 84, 29, 39, 90, were binational trade's top five traded commodities. They correspond to import and export values of 6919.8949 million, 2588.3073 million, 1124.5597 million, 1037.6119 million, 939.4031 million and makes up 36.29%, 13.57%, 5.90%, 5.44%, 4.93% of the total binational imports and exports. These values were also down 3.22%, down 18.30%, down 27.63%, down 6.32%, down 14.65% comparing to the same period last year.

During the current year until 202001, 85, 84, 29, 39, 90 were the top five traded commodities exported to China from SOUTH KOREA, with export values of 3746.1630 million, 1274.5825 million, 802.3635 million, 767.5713 million, 653.7027 million. These values account for 38.85%, 13.22%, 8.32%, 7.96%, 6.78% of SOUTH KOREA's total exports and were down 1.52%, down 19.91%, down 30.82%, down 5.80%, down 20.97% comparing to the same period of last year.

During the current year until 202001, 85, 84, 28, 72, 73 were SOUTH KOREA's top five traded commodities importing from China , with import values of 3173.7319 million, 1313.7248 million, 430.6276 million, 354.9427 million, 349.2542 million. These values account for 33.67%, 13.94%, 4.57%, 3.77%, 3.71% of SOUTH KOREA's total imports and were down 5.16%, down 16.67%, up 4.38%, down 35.72%, down 6.30% comparing with the same period of last year.


3.Analysis of import and export trends


Data Source: Korea Customs and Trade Development Institution