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Monitor Report of SOUTH KOREA trade and SOUTH KOREA-China binational trade in 202003

 1.  Overview the trade of SOUTH KOREA in goods current year until 202003

According to Dalian Infobank, in 202003SOUTH KOREA's exports and imports of goods amounted to 88056.2860 million, and were down 1.00% comparing with the same period of last year. Among these, exports were down 1.63% at 46215.7038 million, and imports were down 0.30% at 41840.5822 million. And the corresponding trade surplus was 4375.1216 million and down 12.69%.

During the current year until 202003, SOUTH KOREA's total exports and imports of goods were 251834.0027 million and were down 1.73% comparing to the same period of last year. Among these, exports were 130244.1749 million and down 1.74%; imports were 121589.8278 million and down 1.72%. The total trade surplus was 8654.3471 million and down 2.01%.

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 202003, SOUTH KOREA's imports and exports to five countries/territories were 53053.8427 million, 35360.2142 million, 18513.1449 million, 17260.2031 million, 8286.6227 million. These values correspond to 21.07%, 14.04%, 7.35%, 6.85%, 3.29% of SOUTH KOREA's imports and exports, and, respectively, were down 7.66%, up 8.30%, down 4.28%, up 2.99%, up 0.46% comparing to the same period of last year.

Current year until 202003, 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 202003, SOUTH KOREA's exports to these five countries/territories were 29120.6660 million, 18962.5623 million, 12013.5851 million, 7914.4554 million, 7186.6543 million. These values correspond to 22.36%, 14.56%, 9.22%, 6.08%, 5.52% of SOUTH KOREA's exports and, respectively, were down 8.36%, up 5.55%, up 2.97%, up 1.52%, up 0.21% comparing with the same period of last year.

Current year until 202003, 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 202003, SOUTH KOREA's imports from these five countries/territories were 23933.1767 million, 16397.6520 million, 11326.4906 million, 5389.8221 million, 5246.6181 million. These values correspond to 19.68%, 13.49%, 9.32%, 4.43%, 4.32% of SOUTH KOREA's total imports and, respectively, were down 6.78%, up 11.67%, down 6.93%, up 1.39%, up 3.04% comparing with the same period of last year.

During the current year until 202003, the trade surplus of SOUTH KOREA was mainly from HONG KONG, VIETNAM, CHINA, UNITED STATES, INDIA at 7542.2881 million, 6766.9670 million, 5187.4893 million, 2564.9103 million, 2257.7089 million, and up 2.70%, up 2.91%, down 15.00%, down 21.85%, down 19.01%. And the trade deficits were mainly from SAUDI ARABIA, JAPAN, AUSTRALIA, GERMANY, QATAR at 4485.4198 million, 4139.8363 million, 3208.4009 million, 2649.0135 million, 2622.5589 million, and down 0.98%, down 17.18%, up 4.83%, up 18.07%, down 25.26%.

Current year until 202003, SOUTH KOREA's trade surplus or deficit with top five countries/territories During the current year until 202003,  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 59543.9635 million, 40323.3792 million, 30206.0956 million, 17732.0710 million, 10658.7107 million, which were up 3.75%, down 4.72%, down 2.61%, down 6.07%, down 3.01% comparing with the same period of last year and account for 23.64%, 16.01%, 11.99%, 7.04%, 4.23% of SOUTH KOREA's total imports and exports.

During the current year until 202003, 85, 84, 87, 27, 39 were SOUTH KOREA's top five traded commodities, with total import and export values of 37931.2033 million, 17251.7814 million, 13969.8680 million, 8791.0019 million, 7928.7795 million. These values correspond to 29.12%, 13.25%, 10.73%, 6.75%, 6.09% of SOUTH KOREA's total exports and, respectively, were up 3.68%, down 2.45%, down 7.82%, down 11.52%, down 2.92% comparing to the same period of last year.

During the current year until 202003, 27, 85, 84, 90, 87 were SOUTH KOREA's top five traded commodities, with total import values of 31532.3774 million, 21612.7602 million, 12954.3143 million, 4579.8754 million, 3762.2030 million. These values correspond to 25.93%, 17.78%, 10.65%, 3.77%, 3.09% of SOUTH KOREA's total exports and, respectively, were down 2.63%, up 3.86%, down 2.82%, up 7.18%, up 1.05% comparing to the same period of last year.


2. Current year until 202003, SOUTH KOREA binational trade profile

According to Dalian Infobank, during the current year until 202003, SOUTH KOREA-China binational exports and imports of goods amounted to 53053.8427 million and were down 7.66% comparing with the same period of last year. Among these, exports from SOUTH KOREA to China were 29120.6660 million and down 8.36%, imports from China to SOUTH KOREA were 23933.1767 million and down 6.78%. The total binational trade surplus was 5187.4893 million and down 15.00%.

During the urrent year until 202003, commodities with hs2 code, 85, 84, 39, 29, 90, were binational trade's top five traded commodities. They correspond to import and export values of 20608.0112 million, 7046.1397 million, 2922.3126 million, 2920.5048 million, 2704.1838 million and makes up 38.84%, 13.28%, 5.51%, 5.50%, 5.10% of the total binational imports and exports. These values were also up 2.79%, down 17.54%, down 4.70%, down 30.08%, down 10.15% comparing to the same period last year.

During the current year until 202003, 85, 84, 39, 90, 29 were the top five traded commodities exported to China from SOUTH KOREA, with export values of 11779.1431 million, 3854.0135 million, 2212.7042 million, 2033.5982 million, 2025.5061 million. These values account for 40.45%, 13.23%, 7.60%, 6.98%, 6.96% of SOUTH KOREA's total exports and were up 3.76%, down 17.46%, down 6.07%, down 12.29%, down 37.50% comparing to the same period of last year.

During the current year until 202003, 85, 84, 72, 28, 29 were SOUTH KOREA's top five traded commodities importing from China , with import values of 8828.8681 million, 3192.1261 million, 1152.2010 million, 1010.9208 million, 894.9987 million. These values account for 36.89%, 13.34%, 4.81%, 4.22%, 3.74% of SOUTH KOREA's total imports and were up 1.53%, down 17.64%, down 23.85%, up 2.34%, down 4.40% comparing with the same period of last year.


3.Analysis of import and export trends


Data Source: Korea Customs and Trade Development Institution