South Korea's trade surplus plunged to USD 1.69 billion in October 2021 from USD 5.72 billion in the same month a year earlier, reflecting the impact of the ongoing COVID-19 pandemic that deteriorated the global trade, a preliminary reading showed. Exports increased by 24.0 percent year-on-year to USD 55.55 billion, while imports expanded at a faster 37.8 percent to USD 53.86 billion. Considering the first ten months of the year, the trade surplus narrowed to USD 27.63 billion from USD 32.26 in the same period of 2020. source: Ministry of Trade, Industry & Energy (MOTIE)
Balance of Trade in South Korea averaged 1166.82 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 November of 2021.
Balance of Trade in South Korea is expected to be 6700.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. 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.