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Monitor Report of SOUTH KOREA trade and SOUTH KOREA-China binational trade in 202008

 1.  Overview the trade of SOUTH KOREA in goods current year until 202008

According to Dalian Infobank, in 202008SOUTH KOREA's exports and imports of goods amounted to 75302.3426 million, and were down 12.88% comparing with the same period of last year. Among these, exports were down 10.07% at 39571.6629 million, and imports were down 15.79% at 35730.6796 million. And the corresponding trade surplus was 3840.9833 million and up 144.73%.

During the current year until 202008, SOUTH KOREA's total exports and imports of goods were 626986.4718 million and were down 10.38% comparing to the same period of last year. Among these, exports were 322994.3343 million and down 10.53%; imports were 303992.1375 million and down 10.22%. The total trade surplus was 19002.1968 million and down 15.31%.

If considering by country (region), CHINA, UNITED STATES, JAPAN, VIETNAM, TAIWAN were SOUTH KOREA's top five trading partners. During the current year until 202008, SOUTH KOREA's imports and exports to five countries/territories were 153022.6695 million, 86107.5034 million, 45916.9080 million, 43117.1968 million, 21169.6005 million. These values correspond to 24.41%, 13.73%, 7.32%, 6.88%, 3.38% of SOUTH KOREA's imports and exports, and, respectively, were down 4.37%, down 3.91%, down 10.85%, down 5.35%, up 4.00% comparing to the same period of last year.

Current year until 202008, 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 202008, SOUTH KOREA's exports to these five countries/territories were 84127.2537 million, 46744.0904 million, 29457.3425 million, 19184.0534 million, 16549.7464 million. These values correspond to 26.05%, 14.47%, 9.12%, 5.94%, 5.12% of SOUTH KOREA's exports and, respectively, were down 4.75%, down 3.82%, down 7.39%, down 10.95%, down 12.99% comparing with the same period of last year.

Current year until 202008, 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 202008, SOUTH KOREA's imports from these five countries/territories were 68895.4158 million, 39363.4130 million, 29367.1616 million, 13659.8542 million, 13122.2665 million. These values correspond to 22.66%, 12.95%, 9.66%, 4.49%, 4.32% of SOUTH KOREA's total imports and, respectively, were down 3.90%, down 4.02%, down 9.60%, down 0.64%, up 1.10% comparing with the same period of last year.

During the current year until 202008, the trade surplus of SOUTH KOREA was mainly from HONG KONG, VIETNAM, CHINA, UNITED STATES, INDIA at 18087.6940 million, 15797.4883 million, 15231.8378 million, 7380.6774 million, 3709.7513 million, and down 10.84%, down 12.53%, down 8.42%, down 2.76%, down 47.01%. And the trade deficits were mainly from JAPAN, SAUDI ARABIA, AUSTRALIA, GERMANY, QATAR at 12817.4152 million, 8469.7189 million, 7772.2818 million, 7281.6502 million, 5232.2342 million, and down 4.80%, down 36.03%, down 9.43%, up 0.89%, down 40.50%.

Current year until 202008, SOUTH KOREA's trade surplus or deficit with top five countries/territories During the current year until 202008,  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 159085.1415 million, 81847.5572 million, 77806.4261 million, 42573.4436 million, 27279.9881 million, which were down 0.52%, down 1.20%, down 32.25%, down 18.85%, down 7.72% comparing with the same period of last year and account for 25.37%, 13.05%, 12.41%, 6.79%, 4.35% of SOUTH KOREA's total imports and exports.

During the current year until 202008, 85, 84, 87, 39, 27 were SOUTH KOREA's top five traded commodities, with total import and export values of 99517.8034 million, 44268.7910 million, 31846.2289 million, 19928.2491 million, 17556.2009 million. These values correspond to 30.81%, 13.71%, 9.86%, 6.17%, 5.44% of SOUTH KOREA's total exports and, respectively, were down 1.23%, down 5.90%, down 23.72%, down 8.87%, down 37.49% comparing to the same period of last year.

During the current year until 202008, 27, 85, 84, 90, 87 were SOUTH KOREA's top five traded commodities, with total import values of 60250.2252 million, 59567.3382 million, 37578.7662 million, 12392.3649 million, 10727.2147 million. These values correspond to 19.82%, 19.60%, 12.36%, 4.08%, 3.53% of SOUTH KOREA's total exports and, respectively, were down 30.56%, up 0.68%, up 4.97%, up 2.91%, up 0.16% comparing to the same period of last year.


2. Current year until 202008, SOUTH KOREA binational trade profile

According to Dalian Infobank, during the current year until 202008, SOUTH KOREA-China binational exports and imports of goods amounted to 153022.6695 million and were down 4.37% comparing with the same period of last year. Among these, exports from SOUTH KOREA to China were 84127.2537 million and down 4.75%, imports from China to SOUTH KOREA were 68895.4158 million and down 3.90%. The total binational trade surplus was 15231.8378 million and down 8.42%.

During the urrent year until 202008, commodities with hs2 code, 85, 84, 39, 90, 29, were binational trade's top five traded commodities. They correspond to import and export values of 59793.7996 million, 21517.1525 million, 8675.1028 million, 7676.9737 million, 7385.5916 million and makes up 39.08%, 14.06%, 5.67%, 5.02%, 4.83% of the total binational imports and exports. These values were also up 1.51%, down 7.29%, up 1.44%, down 8.03%, down 27.09% comparing to the same period last year.

During the current year until 202008, 85, 84, 39, 90, 29 were the top five traded commodities exported to China from SOUTH KOREA, with export values of 34403.7664 million, 11422.7855 million, 6688.6450 million, 5770.5260 million, 5057.1905 million. These values account for 40.89%, 13.58%, 7.95%, 6.86%, 6.01% of SOUTH KOREA's total exports and were up 4.40%, down 11.83%, up 2.14%, down 11.14%, down 33.44% comparing to the same period of last year.

During the current year until 202008, 85, 84, 72, 28, 29 were SOUTH KOREA's top five traded commodities importing from China , with import values of 25390.0332 million, 10094.3670 million, 2634.3932 million, 2345.7331 million, 2328.4011 million. These values account for 36.85%, 14.65%, 3.82%, 3.40%, 3.38% of SOUTH KOREA's total imports and were down 2.17%, down 1.55%, down 30.86%, down 3.28%, down 8.05% comparing with the same period of last year.


3.Analysis of import and export trends


Data Source: Korea Customs and Trade Development Institution