Baku, Azerbaijan, August 21
By Umid Niayesh - Trend:
The South Korea-Iran trade turnover amounted to $5.835 billion in January-July 2018, 16.8 percent less year-on-year, according to the latest data released by the Korean Customs Service.
The negative balance of South Korea in trade with Iran amounted to $1.95 billion during the first seven months of 2018.
South Korea exported $1.94 billion worth of goods to Iran in the 7-month period, which is less by 16 percent compared to the same period of 2017.
Meanwhile, the country’s imports from Iran hit $3.9 billion in the same span of time, indicating a fall by 17 percent compared to January-July 2017.
Iran-South Korea trade in 2017-2018 (1,000 USD)
|
Month |
2018 |
2017 |
Export change % |
Import change % |
||||
|
Export |
Import |
Trade balance |
Export |
Import |
Trade balance |
|||
|
1 |
310 213 |
521 811 |
-211 598 |
327 842 |
785 219 |
-457 377 |
-5 |
-34 |
|
2 |
239 159 |
638 268 |
- 399 109 |
296 578 |
740 799 |
-444 221 |
-19 |
-14 |
|
3 |
309 732 |
748 773 |
-439 041 |
301 688 |
1 023 745 |
-722 057 |
3 |
-27 |
|
4 |
233 816 |
664 285 |
-430 469 |
371 711 |
610 414 |
-238 703 |
-37 |
9 |
|
5 |
296 793 |
416 857 |
-120 064 |
370 263 |
450 133 |
-79 870 |
-20 |
-7 |
|
6 |
319 151 |
413 393 |
-94 242 |
366 342 |
491 416 |
-125 074 |
-13 |
-16 |
|
7 |
232 322 |
490 548 |
-258 226 |
288 205 |
578 851 |
-290 646 |
-19 |
-15 |
|
Total |
1 941 186 |
3 893 935 |
-1 952 749 |
2 322 629 |
4 680 577 |
-2 357 948 |
-16 |
-17 |
The trade fall between the two countries comes after a huge rise in 2017. The Iran-South Korea trade volume hit $12 billion last year, witnessing a rise by 43.6 percent compared to 2016.
Iran-South Korea trade in 2016-2017 (1,000 USD)
|
2017 |
2016 |
Growth rate % |
||||
|
Export |
Import |
Export |
Import |
Export |
Import |
|
|
Total |
4,021,060 |
7,989,300 |
3,716,566 |
4,647,659 |
92.43 |
58.17 |
South Korea imported $7.99 billion worth of commodities, including oil, from Iran in January-December 2017, which is more by 58 percent compared to the same period of 2016.
The country also exported $4 billion worth of goods to the Islamic Republic in the 12-month period, registering a 92 percent rise compared to 2016.
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