Insights for South Korea

MoM insights: In the month-on-month analysis, South Korea's total exports increased significantly by 8.5 billion USD, reflecting a growth of approximately 13.94%. Imports also saw a notable rise, with a total increase of 6.07 billion USD, translating to a growth of about 11.83%. For imports by country, the highest increases were from China (1.77 billion USD, 14.78%), Japan (724.73 million USD, 18.37%), and the United States (666.37 million USD, 10.92%). Conversely, the largest declines were from Hong Kong (-277.31 million USD, -44.67%), Algeria (-150.32 million USD, -38.67%), and Norway (-109.85 million USD, -42.79%). In exports, the top increases were seen with the United States (1.98 billion USD, 19.14%), Chinese Taipei (1 billion USD, 24.27%), and China (884.88 million USD, 7.34%). The largest decreases were from France (-446.73 million USD, -61.32%), Kyrgyzstan (-224.17 million USD, -57.69%), and Egypt (-187.13 million USD, -59.94%). By HS4 category, imports of Integrated Circuits rose by 1.13 billion USD (22.20%), Petroleum Gas by 875.17 million USD (43.05%), and Machines for semiconductor manufacturing by 404.5 million USD (22.12%). The largest declines were in Gold (-663.66 million USD, -46.17%), Passenger and Cargo Ships (-245.16 million USD, -59.03%), and Zinc Ore (-129.71 million USD, -59.80%). Exports of Integrated Circuits increased by 2.77 billion USD (19.87%), Passenger and Cargo Ships by 1.26 billion USD (80.12%), and Refined Petroleum by 925.89 million USD (28.85%). The largest declines were in Cars (-457.04 million USD, -7.45%), Special Purpose Ships (-324.35 million USD, -99.98%), and Nuclear Reactors (-192.61 million USD, -99.93%).

YoY insights: In the year-on-year analysis, total exports increased by 8.65 billion USD, representing a growth of approximately 14.22%. Imports also saw a rise of 2.51 billion USD, translating to a growth of about 4.57%. For imports by country, the highest increases were from China (1.35 billion USD, 10.89%), the United States (1.3 billion USD, 23.80%), and Australia (679.46 million USD, 29.64%). The largest declines were from Saudi Arabia (-765.05 million USD, -28.53%), Qatar (-581.95 million USD, -48.83%), and the Netherlands (-487.02 million USD, -33.82%). In exports, the top increases were seen with Hong Kong (1.36 billion USD, 41.36%), Vietnam (1.33 billion USD, 27.05%), and China (1.16 billion USD, 9.86%). The largest declines were from Liberia (-351.69 million USD, -46.86%), France (-232.78 million USD, -45.23%), and Japan (-178.8 million USD, -6.78%). By HS4 category, imports of Gold increased by 636.26 million USD (462.84%), Telephones by 467.2 million USD (77.50%), and Integrated Circuits by 456.82 million USD (7.93%). The largest declines were in Refined Petroleum (-766.84 million USD, -35.86%), Passenger and Cargo Ships (-426.86 million USD, -71.50%), and Coal (-297.68 million USD, -21.77%). Exports of Integrated Circuits increased by 5.05 billion USD (43.30%), Office Machine Parts by 1.15 billion USD (47.50%), and Passenger and Cargo Ships by 801.03 million USD (39.42%). The largest declines were in Special Purpose Ships (-891.72 million USD, -99.99%), Cars (-248.2 million USD, -4.25%), and Machinery (-137.92 million USD, -22.00%).