South Korea trade surplus soared sharply to USD 2.93 billion in May 2021 from USD 0.2 billion in the same a year earlier. Exports climbed 45.6% yoy to USD 50.73 billion, while imports grew at a slower 37.9% to USD 47.81 billion. Considering the first five months of the year, the trade surplus widened sharply to USD 13.87 billion from USD 7.11 in the same period of 2020. source: Ministry of Trade, Industry & Energy (MOTIE)
Balance of Trade in South Korea averaged 1154.88 USD Million from 1966 until 2021, reaching an all time high of 13419.36 USD Million in September of 2017 and a record low of -4043.46 USD Million in January of 2008. This page provides the latest reported value for - South Korea Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. South Korea Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on June of 2021.
Balance of Trade in South Korea is expected to be 5708.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in South Korea to stand at 6700.00 in 12 months time. In the long-term, the South Korea Balance of Trade is projected to trend around 6700.00 USD Million in 2022, according to our econometric models.