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South Korea Exports YoY

Exports YoY in South Korea increased to 32.10 percent in November from 24.10 percent in October of 2021. Exports YoY in South Korea averaged 17.37 percent from 1967 until 2021, reaching an all time high of 148.58 percent in October of 1973 and a record low of -35.77 percent in January of 2009. South Korea has an export oriented economy and its exports account for more than 50 percent of GDP. The country’s exports tumbled 10.3 percent to USD 542.4 billion in 2019 after reaching a record high in the previous year, due to the US-China trade dispute, Japan’s restrictions on exports, Brexit, and Hong Kong protests. Main exports were electrical machinery and equipment (28 percent of total exports), nuclear reactors, boilers, machinery and mechanical (13 percent), road vehicles (12 percent), mineral fuels, mineral oils, bituminous substances (8 percent), plastics and articles thereof (6 percent), iron and steel (4 percent), optical, photographic, cinematographic, measuring (4 percent), organic chemicals (4 percent), and ships and boats (3 percent). China was the largest destination of South Korea’s shipments (25 percent of total exports), followed by the US (14 percent), Vietnam (9 percent), Hong Kong (6 percent), Japan (5 percent), Taiwan and India (3 percent each), and Singapore, Mexico, Malaysia, Germany and the Philippines (2 percent each). This page includes a chart with historical data for South Korea Exports YoY.
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