South Korea's trade surplus narrowed to USD 0.62 billion in January 2020 from USD 1.04 billion in the same month of the previous year, preliminary data showed. This was the smallest trade surplus in seven years, as exports tumbled 6.1 percent from a year earlier to USD 43.3 billion, amid fewer working days due to the Lunar New Year holidays and worsening sentiment over the new coronavirus. Sales dropped for secondary batteries (-13.5 percent) and chips (-3.4 percent). By destination, exports went down to the Middle East (-9.9 percent) and the EU (-16.2 percent). Imports fell 5.3 percent to USD 42.7 billion, led by the declines in bituminous coal, semiconductor manufacturing equipment, and gasoline passenger vehicles.

Balance of Trade in South Korea averaged 1094.82 USD Million from 1966 until 2019, 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. source: Ministry of Trade, Industry & Energy (MOTIE)

Balance of Trade in South Korea is expected to be 4500.00 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.


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South Korea Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
620.00 2017.12 13419.36 -4043.46 1966 - 2020 USD Million Monthly


Calendar GMT Actual Previous Consensus TEForecast
2019-11-01 12:00 AM Oct $5.39B $5.98B $3.506B $3.8B
2019-12-01 12:00 AM Nov $3.37B $5.34B $4.2B
2020-01-01 12:00 AM Dec $2.02B $3.34B $3.3B
2020-02-01 12:00 AM Jan $0.62B $2.02B $1.5B
2020-03-01 12:00 AM Feb $0.62B $2.9B
2020-04-01 12:00 AM Mar $ 3.5B
2020-05-01 12:00 AM Apr
2020-06-01 12:00 AM May


News Stream
South Korea Trade Surplus Narrows to 7-Year Low
South Korea's trade surplus narrowed to USD 0.62 billion in January 2020 from USD 1.04 billion in the same month of the previous year, preliminary data showed. This was the smallest trade surplus in seven years, as exports tumbled 6.1 percent from a year earlier to USD 43.3 billion, amid fewer working days due to the Lunar New Year holidays and worsening sentiment over the new coronavirus. Sales dropped for secondary batteries (-13.5 percent) and chips (-3.4 percent). By destination, exports went down to the Middle East (-9.9 percent) and the EU (-16.2 percent). Imports fell 5.3 percent to USD 42.7 billion, led by the declines in bituminous coal, semiconductor manufacturing equipment, and gasoline passenger vehicles.
2020-02-01
South Korea Trade Surplus Narrows in December
South Korea's trade surplus narrowed to USD 2.02 billion in December 2019 from USD 4.18 billion in the same month a year earlier, preliminary data showed. This was the smallest trade surplus since August, as exports tumbled 5.2 percent, largely due to the US-China conflict, but fell less compared to an annual 14.4 percent decline in November. Meanwhile, imports dropped at a softer much softer pace of 0.7 percent compared to a 13.0 percent plunge in the previous month. Considering 2019 full year, the trade surplus narrowed sharply to USD 39.19 billion from USD 69.66 billion in 2018.
2020-01-01
South Korea Posts Smallest Trade Surplus in 3 Months
South Korea's trade surplus narrowed to USD 3.37 billion in November 2019 from USD 4.67 billion in the same month a year earlier, preliminary data showed. This was the smallest trade surplus since August, as exports tumbled 14.3 percent, largely due due to the US-China conflict, and an extended plunge in semiconductor prices. Meanwhile, imports dropped at a softer 13.0 percent.
2019-12-01
South Korea Trade Surplus Narrows in October
South Korea's trade surplus narrowed to USD 5.39 billion in October 2019 from USD 6.38 billion in the same month a year earlier and compared to market expectations of a 3.51 billion surplus, preliminary data showed. Exports tumbled 14.7 percent, the biggest fall in nearly four years, largely due to the US-China conflict, as well as the stagnant semiconductor sector and a slowdown in the global economy. Meanwhile, imports dropped 14.6 percent.
2019-11-01

South Korea Balance of Trade
South Korea remained as a net exporter for the 11th consecutive year in 2019 with a trade surplus of USD 39.2 billion, despite a downturn in semiconductors, petrochemicals, and petroleum products industry and challenges such as the US-China trade dispute, Japan’s restrictions on exports, Brexit, and Hong Kong protests.