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South Korea Exports YoY
South Korea's economy is an export-oriented economy, with exports accounting for over half of its gross domestic product (GDP). As a result of the US-China trade war, Japan's export limitations, the protests in Hong Kong, and Brexit, the country's exports fell 10.3% to $542.4 billion in 2019, after reaching a record high the year before. The most dominant export is electromechanical machinery and equipment accounted for 28% of total exports, followed by nuclear reactors, boiler-based machinery & mechanical parts (13%), road vehicles (12%), mineral fuels, mineral oils, bituminous substances (8%), plastics and plastic products (6%) iron and steel (4%), optical, photographic, cinematographic, and measuring (4%) equipment (4%) organic chemicals (4%), and ships and boats (3%). China was the most important destination for South Korean exports (accomplishing 25% of total exports), followed by the United States (14%), Vietnam (9%), Hong Kong (6%), Japan (5%), Taiwan (3%), India (3%), Singapore (2%), Mexico (2%), Malaysia (2%), Germany (2%), and the Philippines (2%).
A higher than expected figure should be seen as positive (bullish) for the KRW while a lower than expected figure should be seen as negative (bearish) for the KRW.
News (KRW)
South Korea Has $10.14 Billion Current Account Surplus
South Korea posted a current account surplus of $10.14 billion in May, the Bank of Korea said on Friday - up from the $5.70 billion surplus in April.
RTTNews | 5 days ago
South Korea Consumer Prices Unchanged In June
Consumer prices in South Korea were flat on a seasonally adjusted monthly basis in June, Statistics Korea said on Wednesday - in line with expectations after slipping 0.1 percent in May.
RTTNews | 7 days ago
South Korea Manufacturing PMI Ticks Higher In June - S&P Global
The manufacturing sector in South Korea continued to contract in June, albeit at a slower pace, the latest survey from S&P Global showed on Tuesday with a manufacturing PMI score of 48.7.
RTTNews | 8 days ago
