Cyclical Behavior of Key Macroeconomic Variables for the R.O.K. Economy (5)

: Annual Export and Import Expenditures

 

Some time series data for the R.O.K. macroeconomic variables are available annually and quarterly while some are not available quarterly or at all. Annual export and import data for R.O.K. are available. The statistics were calculated from logarithmically transformed and then H-P-filtered data.

Cross Correlation of Annual Export and Import Expenditures with Real Gross Domestic Product over Time, 1970-2017

VariableSD%Cross Correlation of Output with
X(-5)X(-4)X(-3)X(-2)X(-1)X[Kor]X(1)X(2)X(3)X(4)X(5)
GDP0.232-0.052-0.166-0.1290.0310.4681.0000.4680.031-0.129-0.166-0.052
EXP1.984-0.088-0.097-0.0430.1250.3420.4220.1520.0970.1620.024-0.163
EXPG3.079-0.088-0.0530.0220.1890.3720.4310.1820.1220.1900.031-0.178
EXPS3.7710.145-0.160-0.270-0.2130.0110.142-0.082-0.085-0.071-0.0440.014
IMP1.399-0.104-0.341-0.407-0.3110.1410.7410.4710.2550.3280.2110.087
IMPG1.444-0.077-0.312-0.379-0.2870.1680.7670.4570.2130.28601650.041
IMPS5.641-0.285-0.416-0.424-0.334-0.0770.2970.3320.3890.4630.4490.371

Notes

SD%: The square root of (average of (cycle/trend)^2 ); GDP: Gross Domestic Product; EXP: Export of goods and services; EXPG: Export of goods (F.O.B basis); EXPS: Export of services; IMP: Import of goods and services; IMPG: Import of goods (F.O.B basis); IMPS: Import of services