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Monitor Report of SOUTH KOREA trade and SOUTH KOREA-China binational trade in 202005

 1.  Overview the trade of SOUTH KOREA in goods current year until 202005

According to Dalian Infobank, in 202005SOUTH KOREA's exports and imports of goods amounted to 69299.1134 million, and were down 22.37% comparing with the same period of last year. Among these, exports were down 23.71% at 34845.1323 million, and imports were down 20.97% at 34453.9810 million. And the corresponding trade surplus was 391.1513 million and down 81.19%.

During the current year until 202005, SOUTH KOREA's total exports and imports of goods were 395323.7965 million and were down 10.01% comparing to the same period of last year. Among these, exports were 201368.1154 million and down 11.28%; imports were 193955.6811 million and down 8.65%. The total trade surplus was 7412.4342 million and down 49.39%.

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 202005, SOUTH KOREA's imports and exports to five countries/territories were 92558.2750 million, 54554.6394 million, 29359.5520 million, 26088.9920 million, 13369.5406 million. These values correspond to 23.41%, 13.80%, 7.43%, 6.60%, 3.38% of SOUTH KOREA's imports and exports, and, respectively, were down 7.97%, down 3.28%, down 9.65%, down 6.66%, down 5.73% comparing to the same period of last year.

Current year until 202005, 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 202005, SOUTH KOREA's exports to these five countries/territories were 50014.7886 million, 28830.3190 million, 17647.9921 million, 12655.4449 million, 10940.8284 million. These values correspond to 24.84%, 14.32%, 8.76%, 6.28%, 5.43% of SOUTH KOREA's exports and, respectively, were down 9.39%, down 5.85%, down 9.56%, down 5.08%, down 8.67% comparing with the same period of last year.

Current year until 202005, 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 202005, SOUTH KOREA's imports from these five countries/territories were 42543.4864 million, 25724.3205 million, 18418.7236 million, 8440.9999 million, 8434.4245 million. These values correspond to 21.93%, 13.26%, 9.50%, 4.35%, 4.35% of SOUTH KOREA's total imports and, respectively, were down 6.25%, down 0.22%, down 10.22%, up 0.04%, up 9.50% comparing with the same period of last year.

During the current year until 202005, the trade surplus of SOUTH KOREA was mainly from HONG KONG, VIETNAM, CHINA, UNITED STATES, INDIA at 11941.3492 million, 9206.9922 million, 7471.3022 million, 3105.9985 million, 2485.7807 million, and down 4.33%, down 16.87%, down 23.94%, down 35.83%, down 44.99%. And the trade deficits were mainly from JAPAN, SAUDI ARABIA, AUSTRALIA, GERMANY, QATAR at 7477.8952 million, 5563.5557 million, 5451.0870 million, 4705.9422 million, 3852.7334 million, and down 12.41%, down 30.75%, up 9.27%, up 19.21%, down 27.51%.

Current year until 202005, SOUTH KOREA's trade surplus or deficit with top five countries/territories During the current year until 202005,  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 96976.4764 million, 54558.1513 million, 50724.8421 million, 26533.3413 million, 16875.4119 million, which were down 1.40%, down 24.17%, down 5.76%, down 19.19%, down 9.32% comparing with the same period of last year and account for 24.53%, 13.80%, 12.83%, 6.71%, 4.27% of SOUTH KOREA's total imports and exports.

During the current year until 202005, 85, 84, 87, 39, 27 were SOUTH KOREA's top five traded commodities, with total import and export values of 60642.2626 million, 28095.3123 million, 19697.8087 million, 12301.0194 million, 11609.8068 million. These values correspond to 30.12%, 13.95%, 9.78%, 6.11%, 5.77% of SOUTH KOREA's total exports and, respectively, were down 2.02%, down 7.75%, down 25.26%, down 11.07%, down 33.99% comparing to the same period of last year.

During the current year until 202005, 27, 85, 84, 90, 87 were SOUTH KOREA's top five traded commodities, with total import values of 42948.3445 million, 36334.2138 million, 22629.5298 million, 7485.9503 million, 6835.5326 million. These values correspond to 22.14%, 18.73%, 11.67%, 3.86%, 3.52% of SOUTH KOREA's total exports and, respectively, were down 20.99%, down 0.34%, down 3.17%, up 0.22%, up 5.49% comparing to the same period of last year.


2. Current year until 202005, SOUTH KOREA binational trade profile

According to Dalian Infobank, during the current year until 202005, SOUTH KOREA-China binational exports and imports of goods amounted to 92558.2750 million and were down 7.97% comparing with the same period of last year. Among these, exports from SOUTH KOREA to China were 50014.7886 million and down 9.39%, imports from China to SOUTH KOREA were 42543.4864 million and down 6.25%. The total binational trade surplus was 7471.3022 million and down 23.94%.

During the urrent year until 202005, 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 36353.7709 million, 12810.1725 million, 5128.1700 million, 4724.2187 million, 4517.2569 million and makes up 39.28%, 13.84%, 5.54%, 5.10%, 4.88% of the total binational imports and exports. These values were also up 1.30%, down 16.65%, down 3.80%, down 29.89%, down 12.62% comparing to the same period last year.

During the current year until 202005, 85, 84, 39, 90, 29 were the top five traded commodities exported to China from SOUTH KOREA, with export values of 20629.3277 million, 6922.6275 million, 3888.7833 million, 3340.3419 million, 3175.2949 million. These values account for 41.25%, 13.84%, 7.78%, 6.68%, 6.35% of SOUTH KOREA's total exports and were up 3.42%, down 19.36%, down 4.84%, down 15.52%, down 37.80% comparing to the same period of last year.

During the current year until 202005, 85, 84, 72, 28, 29 were SOUTH KOREA's top five traded commodities importing from China , with import values of 15724.4432 million, 5887.5450 million, 1949.1893 million, 1584.6022 million, 1548.9238 million. These values account for 36.96%, 13.84%, 4.58%, 3.72%, 3.64% of SOUTH KOREA's total imports and were down 1.35%, down 13.22%, down 24.01%, up 2.47%, down 5.19% comparing with the same period of last year.


3.Analysis of import and export trends


Data Source: Korea Customs and Trade Development Institution