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Monitor Report of SOUTH KOREA trade and SOUTH KOREA-China binational trade in 202002

 1.  Overview the trade of SOUTH KOREA in goods current year until 202002

According to Dalian Infobank, in 202002SOUTH KOREA's exports and imports of goods amounted to 77932.6130 million, and were up 2.43% comparing with the same period of last year. Among these, exports were up 3.71% at 40919.0054 million, and imports were up 1.04% at 37013.6076 million. And the corresponding trade surplus was 3905.3978 million and up 38.21%.

During the current year until 202002, SOUTH KOREA's total exports and imports of goods were 163777.7166 million and were down 2.12% comparing to the same period of last year. Among these, exports were 84028.4711 million and down 1.80%; imports were 79749.2456 million and down 2.45%. The total trade surplus was 4279.2255 million and up 12.00%.

If considering by country (region), CHINA, UNITED STATES, JAPAN, VIETNAM, HONG KONG were SOUTH KOREA's top five trading partners. During the current year until 202002, SOUTH KOREA's imports and exports to five countries/territories were 33447.0243 million, 22687.6585 million, 11635.6179 million, 11356.7607 million, 4996.9901 million. These values correspond to 20.42%, 13.85%, 7.10%, 6.93%, 3.05% of SOUTH KOREA's imports and exports, and, respectively, were down 10.16%, up 6.46%, down 8.86%, up 4.15%, up 3.86% comparing to the same period of last year.

Current year until 202002, SOUTH KOREA and the top five trade partners CHINA, UNITED STATES, VIETNAM, HONG KONG, JAPAN are the top five countries/territories that SOUTH KOREA exports to in terms of the total export amount. During the current year until 202002, SOUTH KOREA's exports to these five countries/territories were 18468.8979 million, 11672.5616 million, 8015.0522 million, 4741.2567 million, 4700.0932 million. These values correspond to 21.98%, 13.89%, 9.54%, 5.64%, 5.59% of SOUTH KOREA's exports and, respectively, were down 9.21%, up 0.20%, up 5.43%, up 4.68%, down 4.30% comparing with the same period of last year.

Current year until 202002, SOUTH KOREA's exports to top five countries/territories CHINA, UNITED STATES, JAPAN, SAUDI ARABIA, VIETNAM are the top five countries/territories that SOUTH KOREA imports from in terms of the total export amount. During the current year until 202002, SOUTH KOREA's imports from these five countries/territories were 14978.1264 million, 11015.0970 million, 6935.5247 million, 3795.2817 million, 3341.7085 million. These values correspond to 18.78%, 13.81%, 8.70%, 4.76%, 4.19% of SOUTH KOREA's total imports and, respectively, were down 11.31%, up 14.01%, down 11.71%, down 0.79%, up 1.20% comparing with the same period of last year.

During the current year until 202002, the trade surplus of SOUTH KOREA was mainly from VIETNAM, HONG KONG, CHINA, INDIA, MALAYSIA at 4673.3436 million, 4485.5232 million, 3490.7715 million, 1530.6644 million, 1151.6941 million, and up 8.68%, up 5.60%, up 1.04%, down 14.94%, down 1454.48%. And the trade deficits were mainly from SAUDI ARABIA, JAPAN, AUSTRALIA, QATAR, GERMANY at 3267.8724 million, 2235.4316 million, 2212.3734 million, 1959.2177 million, 1550.2724 million, and down 1.90%, down 24.08%, up 2.14%, down 25.13%, up 12.06%.

Current year until 202002, SOUTH KOREA's trade surplus or deficit with top five countries/territories During the current year until 202002,  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 37801.6991 million, 29105.6085 million, 18753.2348 million, 10652.1002 million, 6766.2237 million, which were up 3.33%, down 1.00%, down 5.21%, down 10.77%, down 6.96% comparing with the same period of last year and account for 23.08%, 17.77%, 11.45%, 6.50%, 4.13% of SOUTH KOREA's total imports and exports.

During the current year until 202002, 85, 84, 87, 27, 39 were SOUTH KOREA's top five traded commodities, with total import and export values of 24031.0232 million, 10990.1224 million, 8437.0804 million, 6338.2889 million, 5064.6844 million. These values correspond to 28.60%, 13.08%, 10.04%, 7.54%, 6.03% of SOUTH KOREA's total exports and, respectively, were up 3.49%, down 1.27%, down 13.61%, down 6.99%, down 6.50% comparing to the same period of last year.

During the current year until 202002, 27, 85, 84, 90, 26 were SOUTH KOREA's top five traded commodities, with total import values of 22767.3196 million, 13770.6759 million, 7763.1124 million, 2861.3471 million, 2323.2672 million. These values correspond to 28.55%, 17.27%, 9.73%, 3.59%, 2.91% of SOUTH KOREA's total exports and, respectively, were up 0.81%, up 3.04%, down 10.27%, up 4.06%, up 4.67% comparing to the same period of last year.


2. Current year until 202002, SOUTH KOREA binational trade profile

According to Dalian Infobank, during the current year until 202002, SOUTH KOREA-China binational exports and imports of goods amounted to 33447.0243 million and were down 10.16% comparing with the same period of last year. Among these, exports from SOUTH KOREA to China were 18468.8979 million and down 9.21%, imports from China to SOUTH KOREA were 14978.1264 million and down 11.31%. The total binational trade surplus was 3490.7715 million and up 1.04%.

During the urrent year until 202002, 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 13036.9762 million, 4430.9977 million, 1944.9674 million, 1786.3684 million, 1661.2423 million and makes up 38.98%, 13.25%, 5.82%, 5.34%, 4.97% of the total binational imports and exports. These values were also up 2.43%, down 21.16%, down 31.49%, down 11.12%, down 14.30% comparing to the same period last year.

During the current year until 202002, 85, 84, 29, 39, 90 were the top five traded commodities exported to China from SOUTH KOREA, with export values of 7393.1815 million, 2422.1220 million, 1434.0580 million, 1374.9440 million, 1234.8397 million. These values account for 40.03%, 13.11%, 7.76%, 7.44%, 6.69% of SOUTH KOREA's total exports and were up 5.27%, down 20.16%, down 35.50%, down 11.32%, down 17.30% comparing to the same period of last year.

During the current year until 202002, 85, 84, 28, 72, 29 were SOUTH KOREA's top five traded commodities importing from China , with import values of 5643.7947 million, 2008.8757 million, 655.1418 million, 647.0746 million, 510.9094 million. These values account for 37.68%, 13.41%, 4.37%, 4.32%, 3.41% of SOUTH KOREA's total imports and were down 1.06%, down 22.32%, down 1.25%, down 35.90%, down 16.98% comparing with the same period of last year.


3.Analysis of import and export trends


Data Source: Korea Customs and Trade Development Institution