South Korea Balance of Trade  1966-2018 | Data | Chart | Calendar

South Korea’s trade surplus widened to USD 6.7 billion in May of 2018 from USD 5.6 billion in the same month of the preceding year, as exports rose more than imports, preliminary data showed. In May, outbound shipments grew by 13.5 percent year-on-year to USD 51 billion, beating market consensus of a 12.7 percent growth and after a 1.5 percent fall in the prior month. Inbound shipments increased by 12.6 percent to USD 44.3 billion, following a 14.5 percent rise in April while markets estimated a 10.7 percent growth. Considering the first five months of the year, the trade surplus was USD 26.8 billion, much smaller than a USD 34.2 billion surplus in the same period the preceding year. Balance of Trade in South Korea averaged 997.11 USD Million from 1966 until 2018, 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.

South Korea Balance of Trade
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South Korea Trade Surplus Widens 19.6% YoY in May


South Korea’s trade surplus widened to USD 6.7 billion in May of 2018 from USD 5.6 billion in the same month of the preceding year, as exports rose more than imports, preliminary data showed.

In May, outbound shipments grew by 13.5 percent year-on-year to USD 51 billion, beating market consensus of a 12.7 percent growth and after a 1.5 percent fall in the prior month. Sales surged for chips (44.5 percent); and petrochemical goods (26.8 percent). Also, exports of machinery went up 15.8 percent. On the other hand, outbound shipments declined for flat panel displays (-21 percent); and ships (-67 percent).

Among major trading partners, exports to China soared 30 percent, followed by those to the US (11.8 percent) and the EU countries (5.7 percent). In contrast, outbound shipments to the ASEAN countries contracted 2.2 percent. 

Inbound shipments increased by 12.6 percent to USD 44.3 billion, following a 14.5 percent rise in April while markets estimated a 10.7 percent growth.

Considering the first five months of the year, the trade surplus was USD 26.8 billion, much smaller than a USD 34.2 billion surplus in the same period the preceding year.

For 2018, exports are expected to grew by 4 percent amid strengthening local currency and potential retreat in emerging markets.


Rida | rida@tradingeconomics.com
6/1/2018 2:33:44 AM



Calendar GMT Actual Previous Consensus TEForecast
2018-04-01 12:00 AM Balance of Trade $6.9B $3.2B $ 6B
2018-05-01 12:00 AM Balance of Trade $6.6B $6.8B $ 3.7B
2018-06-01 12:00 AM Balance of Trade $6.7B $6.8B $ 3.5B
2018-07-01 12:00 AM Balance of Trade $6.7B $ 8.8B
2018-08-01 12:00 AM Balance of Trade $ 3.4B
2018-09-01 12:00 AM Balance of Trade $ 3.3B


South Korea Trade Last Previous Highest Lowest Unit
Balance of Trade 6732.00 6609.15 13419.36 -4043.46 USD Million [+]
Exports 50984.00 50060.72 55115.24 14.75 USD Million [+]
Imports 44252.00 43451.57 45873.33 38.61 USD Million [+]
Current Account 1770.00 5180.00 12287.50 -3756.80 USD Million [+]
Current Account to GDP 5.60 7.00 10.70 -10.50 percent [+]
External Debt 433886.70 418823.50 452718.00 80766.40 USD Million [+]
Terms of Trade 98.60 100.40 237.00 86.10 Index Points [+]
Foreign Direct Investment 4934000.00 9361000.00 9361000.00 0.00 USD Thousand [+]
Capital Flows -50.80 4217.80 12748.40 -3385.80 USD Million [+]
Tourism Revenues 1393700.00 1134000.00 1765400.00 326500.00 USD Million [+]
Tourist Arrivals 1238021.00 1331709.00 1703495.00 213006.00 [+]
Gold Reserves 104.40 104.40 104.44 13.00 Tonnes [+]
Terrorism Index 0.61 0.23 2.62 0.00 [+]
Weapons Sales 587.00 585.00 587.00 7.00 USD Million [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category



South Korea Balance of Trade

Since 2009 South Korea has been recording trade surpluses due to exports growth. The country exports mainly machinery and transport equipment, oil, iron, steel and plastics while it imports oil, electrical machinery, natural gas and food. Main trading partners are: China (26 percent of total exports and 21 percent of total imports) and the United States (13 percent of exports and 10 percent of imports). Others include: Japan, ASEAN countries and Germany. 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 - actual data, historical chart and calendar of releases - was last updated on June of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
6732.00 6609.15 13419.36 -4043.46 1966 - 2018 USD Million Monthly




balance of trade by Country
Country Last
Australia 977.00 Apr/18
Brazil 5981.00 May/18
Canada -1902.20 Apr/18
China 249.22 May/18
Euro Area 16704.70 Apr/18
France -4954.00 Apr/18
Germany 20413.00 Apr/18
India -14620.00 May/18
Indonesia -1629.30 Apr/18
Italy 2937.96 Apr/18
Japan -578.32 May/18
Mexico -289.15 Apr/18
Netherlands 3841.00 Apr/18
Russia 15316.00 Apr/18
South Korea 6732.00 May/18
Spain -3050045.00 Apr/18
Switzerland 2255.00 May/18
Turkey -6690.00 Apr/18
United Kingdom -5280.00 Apr/18
United States -46199.00 Apr/18


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