Latest reading: In July, the trade balance was USD -3.6 billion, following a USD -2.6 billion figure in the previous...
Merchandise Imports in Korea
Merchandise imports in Korea were worth USD 632 billion in 2024, compared to USD 526 billion ten years earlier, and they averaged USD 543 billion over the last decade. For more information on imports, visit our dedicated page.
Korea Merchandise Imports Chart
Note: This chart displays Imports (USD billion) for Korea from 2014 to 2025.
Source: Macrobond.
Korea Merchandise Imports Data
| 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|
| Merchandise Imports (USD bn) | 615 | 731 | 643 | 632 | 628 |
| Merchandise Imports (ann. var. %) | 31.5 | 18.9 | -12.1 | -1.7 | -0.6 |
Merchandise trade surplus shrinks in July
Latest reading: In July, the trade balance was USD +30.3 billion, following a USD +36.1 billion reading in the prior month. Over the last 12 months, the trade balance summed to USD +211.5 billion. Merchandise exports increased 62.8% in year-on-year terms in July, following 70.7% growth in the previous month, mainly driven by a surge in semiconductor shipments, which rose for the 14th consecutive month, driven by strong demand for memory chips. Merchandise imports were up 26.5% in year-on-year terms in July, following 30.0% growth in the previous month.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Korean merchandise imports projections for the next ten years from a panel of 5 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable merchandise imports forecast available for Korean merchandise imports.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Korean merchandise imports projections.
Want to get access to the full dataset of Korean merchandise imports forecasts? Send an email to info@focus-economics.com.
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