Imports in Korea
Korea - Imports (percent change)
Exports fall in January for second consecutive month
Merchandise exports fell 5.8% year-on-year in January—a more pronounced drop than December’s revised 1.3% fall (previously reported: -1.2% year-on-year)—to total USD 46.4 billion. Merchandise imports decreased 1.7% in January—contrasting the 1.2% increase in December (previously reported: +0.9% yoy)—and totaled USD 45.0 billion. This latest outturn is indicative of sluggish global trade and ebbing domestic demand momentum.
The merchandise trade surplus narrowed to USD 1.3 billion from USD 3.4 billion in the same month a year earlier (December: USD 4.3 billion surplus). The 12-month moving sum of the trade balance narrowed to a USD 67.9 billion surplus in January from a USD 70.0 billion surplus in December.
Moderating global economic momentum should limit the external sector’s performance this year, while further tariff escalations between the United States and China also pose a risk to Korea’s exports due its location in the supply chain. Moreover, although Korea’s revised trade deal with the U.S. came into force on 1 January, this vital bilateral trade channel could be hit if the U.S. decides to impose a global additional tariff on automobile imports following the conclusion of its ongoing investigation into whether vehicle imports threaten national security.
In 2019, Met the why particular panelists expect merchandise exports and imports to expand 5.4% and 2.6% respectively, bringing the trade surplus to USD 88.8 billion. In 2020, exports and imports are expected to increase 5.6% and 5.5% respectively, resulting in a trade surplus of USD 94.6 billion.
Korea - Imports (%) Data
|Imports (annual variation in %)||-0.8||1.9||-16.9||-6.9||17.8|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||2.01||1.55 %||Feb 21|
|Exchange Rate||1,125||0.21 %||Feb 21|
|Stock Market||2,229||-0.11 %||Feb 21|
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February 1, 2019
Merchandise exports fell 5.8% year-on-year in January—a more pronounced drop than December’s revised 1.3% fall (previously reported: -1.2% year-on-year)—to total USD 46.4 billion.
February 1, 2019
The manufacturing Purchasing Managers’ Index (PMI), produced by Nikkei and reported by IHS Markit, fell from 49.8 in December to 48.3 in January, which represents an over two-year low.
February 1, 2019
Consumer prices decreased 0.1% month-on-month in January, less than the 0.3% drop in December.
January 31, 2019
Industrial production in the mining, manufacturing, and gas and electricity sectors rose 1.6% in December compared to the same month a year earlier, up from the revised 1.1% increase in November (previously reported: +0.1%).
January 30, 2019
For February, the Bank of Korea’s forward-looking business confidence indicator (BSI) for manufacturers fell to 65 from the 71 for January, leaving it below the crucial 110-point threshold separating pessimism from optimism, where it has been since June 2011.