South Korea's trade surplus increased to USD 4.27 billion in July 2020 from USD 2.32 billion in the same month a year earlier, following the reopening of the economy, a preliminary estimate showed. Exports dropped 7 percent after falling 10.9 percent in the previous month, while imports plunged 11.9 percent after declining 11.4 percent. Considering the first seven months of 2020, the surplus narrowed to USD 15.1 billion from USD 20.9 billion in the same period of 2019.
Balance of Trade in South Korea averaged 1105.84 USD Million from 1966 until 2020, 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 August of 2020. source: Ministry of Trade, Industry & Energy (MOTIE)
Balance of Trade in South Korea is expected to be 9500.00 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 5800.00 in 12 months time. In the long-term, the South Korea Balance of Trade is projected to trend around 5800.00 USD Million in 2021, according to our econometric models.