Vientiane: The Republic of Korea (RoK)’s exports to the Association of Southeast Asian Nations (ASEAN) countries are experiencing a notable increase, providing a counterbalance to recent declines in shipments to the US and China amidst a global trade war influenced by the US’ new tariff policies, as reported by RoK’s media.
According to Lao News Agency, outbound shipments to the ASEAN region reached 47.88 billion USD in the January-May period, marking a 4.3% rise from the same period last year, based on data compiled by the Korea International Trade Association (KITA).
During the same timeframe, RoK’s exports to the US decreased by 4.3% due to the impact of the Donald Trump administration’s tariff policies, while shipments to China saw a 5% decline.
In February, exports to ASEAN economies amounted to 9.56 billion USD, surpassing monthly shipments to China, which were at 9.5 billion USD, for the first time in 23 years. This trend continued in March, with shipments to ASEAN reaching 10.26 billion USD compared to China’s 10.06 billion USD.
In May, ASEAN imported 10 billion USD worth of RoK’s goods, reflecting a slight 1.3% decrease compared to the same period last year.
Previously, the Korea Trade-Investment Promotion Agency (KOTRA) identified ASEAN as a key growth market for South Korean exports, aligning with the country’s strategic shift to reduce dependence on the Chinese market. Promising export sectors include semiconductors, electronics, home appliances, robotics, components for electric vehicle batteries, renewable energy equipment, and other industrial goods.
