Korea Customs Service_Export/Import Performance by Item (GW)

Korea Customs Service_Export/Import Performance by Item (GW)

These statistics are compiled by product, based on trade data collected through customs clearance procedures for import and export declarations, and compiled by HS Code (2-digit, 4-digit, 6-digit, and 10-digit). As the dictionary defines them, they refer to the exchange of goods between the national economy and other countries. All goods brought into or taken out of a country's economic territory, thereby increasing or decreasing the country's material resources, are recorded. Goods simply passing through a country (transit goods) or temporarily imported or exported do not increase or decrease the country's material resources and are therefore not included in trade statistics. The trade statistics area, which serves as the basis for compiling these statistics, is determined by geographical, administrative, and national economic perspectives. In most countries, including Korea, the customs territory, which refers to the area to which customs laws apply, is conceptually identical to the trade statistics area. Therefore, trade statistics encompass the exchange of goods beyond the customs territory. Korea compiles imports based on CIF (cost-on-arrival) values, while exports are calculated based on FOB (free on board) values. The HS Code is an international commodity classification system that assigns a unique number to every product. Data from the previous month is updated around the 15th of each month to reflect changes, such as corrections or cancellations of import and export declarations. The cycle is one month. Weight is expressed in net weight (kg), and value is based on import (dutiable value in US dollars) and export (declared value in US dollars).