South Korea’s trade surplus narrowed sharply to USD 1.34 billion in January of 2019 from USD 3.45 billion in the same month of the preceding year, a preliminary data showed. It was the smallest trade surplus since February 2014, as exports dropped by 5.8 percent year-on-year to USD 46.35 billion, while imports declined 1.7 percent to USD 45.02 billion. Balance of Trade in South Korea averaged 1055.05 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.
Balance of Trade in South Korea is expected to be 4230.00 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 16100.00 in 12 months time. In the long-term, the South Korea Balance of Trade is projected to trend around 5800.00 USD Million in 2020, according to our econometric models.