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Monitor Report of SOUTH KOREA trade and SOUTH KOREA-China binational trade in 202004

 1.  Overview the trade of SOUTH KOREA in goods current year until 202004

According to Dalian Infobank, in 202004SOUTH KOREA's exports and imports of goods amounted to 74190.6805 million, and were down 20.88% comparing with the same period of last year. Among these, exports were down 25.59% at 36278.8082 million, and imports were down 15.78% at 37911.8723 million. And the corresponding trade deficit was 1633.0642 million and down 143.73%.

During the current year until 202004, SOUTH KOREA's total exports and imports of goods were 326024.6831 million and were down 6.86% comparing to the same period of last year. Among these, exports were 166522.9830 million and down 8.15%; imports were 159501.7001 million and down 5.47%. The total trade surplus was 7021.2829 million and down 44.13%.

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 202004, SOUTH KOREA's imports and exports to five countries/territories were 72828.8243 million, 45676.0090 million, 24488.3577 million, 21542.8414 million, 10818.3928 million. These values correspond to 22.34%, 14.01%, 7.51%, 6.61%, 3.32% of SOUTH KOREA's imports and exports, and, respectively, were down 8.56%, up 2.89%, down 6.71%, down 5.53%, down 1.82% comparing to the same period of last year.

Current year until 202004, 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 202004, SOUTH KOREA's exports to these five countries/territories were 39275.1260 million, 24240.8533 million, 14730.8280 million, 10293.8184 million, 9172.5125 million. These values correspond to 23.59%, 14.56%, 8.85%, 6.18%, 5.51% of SOUTH KOREA's exports and, respectively, were down 11.13%, up 0.49%, down 7.15%, down 0.91%, down 2.91% comparing with the same period of last year.

Current year until 202004, SOUTH KOREA's exports to top five countries/territories CHINA, UNITED STATES, JAPAN, VIETNAM, GERMANY are the top five countries/territories that SOUTH KOREA imports from in terms of the total export amount. During the current year until 202004, SOUTH KOREA's imports from these five countries/territories were 33553.6984 million, 21435.1557 million, 15315.8452 million, 6812.0134 million, 6713.9622 million. These values correspond to 21.04%, 13.44%, 9.60%, 4.27%, 4.21% of SOUTH KOREA's total imports and, respectively, were down 5.35%, up 5.75%, down 8.84%, down 1.84%, up 10.25% comparing with the same period of last year.

During the current year until 202004, the trade surplus of SOUTH KOREA was mainly from HONG KONG, VIETNAM, CHINA, UNITED STATES, INDIA at 9769.2439 million, 7918.8145 million, 5721.4276 million, 2805.6976 million, 2349.5525 million, and up 0.12%, down 11.27%, down 34.59%, down 27.19%, down 36.09%. And the trade deficits were mainly from JAPAN, SAUDI ARABIA, AUSTRALIA, GERMANY, QATAR at 6143.3327 million, 5121.9599 million, 4337.4646 million, 3715.6204 million, 3294.3441 million, and down 16.46%, down 19.13%, up 11.31%, up 20.06%, down 23.80%.

Current year until 202004, SOUTH KOREA's trade surplus or deficit with top five countries/territories During the current year until 202004,  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 77692.8208 million, 48400.1035 million, 40477.0974 million, 22708.7319 million, 13978.9300 million, which were down 0.70%, down 15.80%, down 4.86%, down 12.23%, down 6.07% comparing with the same period of last year and account for 23.83%, 14.85%, 12.42%, 6.97%, 4.29% of SOUTH KOREA's total imports and exports.

During the current year until 202004, 85, 84, 87, 27, 39 were SOUTH KOREA's top five traded commodities, with total import and export values of 48831.0843 million, 22827.0827 million, 17288.0455 million, 10375.8135 million, 10261.2952 million. These values correspond to 29.32%, 13.71%, 10.38%, 6.23%, 6.16% of SOUTH KOREA's total exports and, respectively, were down 1.83%, down 5.04%, down 16.53%, down 25.57%, down 7.21% comparing to the same period of last year.

During the current year until 202004, 27, 85, 84, 90, 87 were SOUTH KOREA's top five traded commodities, with total import values of 38024.2899 million, 28861.7365 million, 17650.0148 million, 6150.1710 million, 5420.6865 million. These values correspond to 23.84%, 18.09%, 11.07%, 3.86%, 3.40% of SOUTH KOREA's total exports and, respectively, were down 12.67%, up 1.25%, down 4.63%, up 3.10%, up 5.05% comparing to the same period of last year.


2. Current year until 202004, SOUTH KOREA binational trade profile

According to Dalian Infobank, during the current year until 202004, SOUTH KOREA-China binational exports and imports of goods amounted to 72828.8243 million and were down 8.56% comparing with the same period of last year. Among these, exports from SOUTH KOREA to China were 39275.1260 million and down 11.13%, imports from China to SOUTH KOREA were 33553.6984 million and down 5.35%. The total binational trade surplus was 5721.4276 million and down 34.59%.

During the urrent year until 202004, 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 28200.1767 million, 10022.4754 million, 4033.2058 million, 3825.5380 million, 3621.7122 million and makes up 38.72%, 13.76%, 5.54%, 5.25%, 4.97% of the total binational imports and exports. These values were also down 0.23%, down 16.19%, down 4.52%, down 31.19%, down 10.94% comparing to the same period last year.

During the current year until 202004, 85, 84, 39, 90, 29 were the top five traded commodities exported to China from SOUTH KOREA, with export values of 15885.1470 million, 5475.8579 million, 3037.9023 million, 2694.9384 million, 2574.0488 million. These values account for 40.45%, 13.94%, 7.73%, 6.86%, 6.55% of SOUTH KOREA's total exports and were down 1.47%, down 18.47%, down 6.36%, down 13.50%, down 39.63% comparing to the same period of last year.

During the current year until 202004, 85, 84, 72, 28, 29 were SOUTH KOREA's top five traded commodities importing from China , with import values of 12315.0297 million, 4546.6175 million, 1613.0079 million, 1315.8503 million, 1251.4891 million. These values account for 36.70%, 13.55%, 4.81%, 3.92%, 3.73% of SOUTH KOREA's total imports and were up 1.42%, down 13.27%, down 22.38%, up 3.40%, down 3.39% comparing with the same period of last year.


3.Analysis of import and export trends


Data Source: Korea Customs and Trade Development Institution