Close

Monitor Report of SOUTH KOREA trade and SOUTH KOREA-China binational trade in 202007

 1.  Overview the trade of SOUTH KOREA in goods current year until 202007

According to Dalian Infobank, in 202007SOUTH KOREA's exports and imports of goods amounted to 81520.0149 million, and were down 9.21% comparing with the same period of last year. Among these, exports were down 7.01% at 42826.5406 million, and imports were down 11.53% at 38693.4743 million. And the corresponding trade surplus was 4133.0664 million and up 78.38%.

During the current year until 202007, SOUTH KOREA's total exports and imports of goods were 551684.1292 million and were down 10.03% comparing to the same period of last year. Among these, exports were 283422.6714 million and down 10.60%; imports were 268261.4579 million and down 9.42%. The total trade surplus was 15161.2135 million and down 27.35%.

If considering by country (region), CHINA, UNITED STATES, JAPAN, VIETNAM, TAIWAN were SOUTH KOREA's top five trading partners. During the current year until 202007, SOUTH KOREA's imports and exports to five countries/territories were 133827.7354 million, 75905.3601 million, 40635.9184 million, 37158.5513 million, 18268.0614 million. These values correspond to 24.26%, 13.76%, 7.37%, 6.74%, 3.31% of SOUTH KOREA's imports and exports, and, respectively, were down 4.71%, down 3.70%, down 10.45%, down 4.92%, up 3.31% comparing to the same period of last year.

Current year until 202007, 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 202007, SOUTH KOREA's exports to these five countries/territories were 73183.5337 million, 41152.9703 million, 25347.6719 million, 17032.6112 million, 14783.5100 million. These values correspond to 25.82%, 14.52%, 8.94%, 6.01%, 5.22% of SOUTH KOREA's exports and, respectively, were down 5.01%, down 4.26%, down 7.23%, down 10.19%, down 11.89% comparing with the same period of last year.

Current year until 202007, 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 202007, SOUTH KOREA's imports from these five countries/territories were 60644.2016 million, 34752.3898 million, 25852.4083 million, 11810.8794 million, 11710.3803 million. These values correspond to 22.61%, 12.95%, 9.64%, 4.40%, 4.37% of SOUTH KOREA's total imports and, respectively, were down 4.34%, down 3.03%, down 9.60%, up 0.45%, up 4.99% comparing with the same period of last year.

During the current year until 202007, the trade surplus of SOUTH KOREA was mainly from HONG KONG, VIETNAM, CHINA, UNITED STATES, INDIA at 16077.2972 million, 13536.7925 million, 12539.3321 million, 6400.5806 million, 3220.2696 million, and down 9.91%, down 13.03%, down 8.15%, down 10.44%, down 47.91%. And the trade deficits were mainly from JAPAN, SAUDI ARABIA, AUSTRALIA, GERMANY, QATAR at 11068.8983 million, 7619.4642 million, 7151.1049 million, 6507.3591 million, 4686.6053 million, and down 6.36%, down 32.61%, up 1.57%, up 7.71%, down 37.20%.

Current year until 202007, SOUTH KOREA's trade surplus or deficit with top five countries/territories During the current year until 202007,  commodities with hs2 codes, 85, 84, 27, 87, 39, were SOUTH KOREA's top five traded commodities. They correspond to the import and export values of 138128.6802 million, 72627.2893 million, 69707.4740 million, 37333.8399 million, 23874.3748 million, which were down 0.75%, down 1.82%, down 29.98%, down 19.63%, down 7.74% comparing with the same period of last year and account for 25.04%, 13.16%, 12.64%, 6.77%, 4.33% of SOUTH KOREA's total imports and exports.

During the current year until 202007, 85, 84, 87, 39, 27 were SOUTH KOREA's top five traded commodities, with total import and export values of 86251.0291 million, 39468.9938 million, 28086.0742 million, 17393.8310 million, 15480.4587 million. These values correspond to 30.43%, 13.93%, 9.91%, 6.14%, 5.46% of SOUTH KOREA's total exports and, respectively, were down 1.34%, down 6.05%, down 24.57%, down 9.25%, down 36.54% comparing to the same period of last year.

During the current year until 202007, 27, 85, 84, 90, 87 were SOUTH KOREA's top five traded commodities, with total import values of 54227.0153 million, 51877.6511 million, 33158.2955 million, 10841.5236 million, 9247.7657 million. These values correspond to 20.21%, 19.34%, 12.36%, 4.04%, 3.45% of SOUTH KOREA's total exports and, respectively, were down 27.85%, up 0.25%, up 3.74%, up 3.32%, up 0.29% comparing to the same period of last year.


2. Current year until 202007, SOUTH KOREA binational trade profile

According to Dalian Infobank, during the current year until 202007, SOUTH KOREA-China binational exports and imports of goods amounted to 133827.7354 million and were down 4.71% comparing with the same period of last year. Among these, exports from SOUTH KOREA to China were 73183.5337 million and down 5.01%, imports from China to SOUTH KOREA were 60644.2016 million and down 4.34%. The total binational trade surplus was 12539.3321 million and down 8.15%.

During the urrent year until 202007, 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 51971.0708 million, 18890.4400 million, 7558.9123 million, 6613.8998 million, 6555.8501 million and makes up 38.83%, 14.12%, 5.65%, 4.94%, 4.90% of the total binational imports and exports. These values were also up 1.24%, down 9.39%, up 1.35%, down 26.37%, down 9.04% comparing to the same period last year.

During the current year until 202007, 85, 84, 39, 90, 29 were the top five traded commodities exported to China from SOUTH KOREA, with export values of 29780.3790 million, 10072.4125 million, 5812.0257 million, 4881.0724 million, 4524.9013 million. These values account for 40.69%, 13.76%, 7.94%, 6.67%, 6.18% of SOUTH KOREA's total exports and were up 4.63%, down 13.50%, up 1.91%, down 12.23%, down 32.67% comparing to the same period of last year.

During the current year until 202007, 85, 84, 72, 28, 29 were SOUTH KOREA's top five traded commodities importing from China , with import values of 22190.6918 million, 8818.0275 million, 2451.4101 million, 2097.1734 million, 2088.9984 million. These values account for 36.59%, 14.54%, 4.04%, 3.46%, 3.44% of SOUTH KOREA's total imports and were down 2.97%, down 4.19%, down 28.17%, down 2.36%, down 7.66% comparing with the same period of last year.


3.Analysis of import and export trends


Data Source: Korea Customs and Trade Development Institution