South Korea Balance of Trade  1966-2017 | Data | Chart | Calendar

South Korea's trade surplus jumped to USD 13.8 billion in September of 2017 from USD 6.9 billion in September 2016, mainly supported by double-digit growth of exports, preliminary data showed. It was the largest surplus on record as, sales surged 35 percent year-on-year to USD 55.1 billion, compared to a downwardly revised 17.3 percent rise in August and above markets consensus of a 21.6 percent growth. It was the ninth straight month of double-digit growth in outbound shipments, the longest stretch of increase at such pace since 2011. Imports jumped by 21.7 percent to USD 41.4 billion, compared to an upwardly revised 15.3 percent gain in August while market estimated a 18.2 percent increase. In August 2017, trade surplus was downwardly revised to 6.6 USD billion. For 2017, exports are projected to rise 2.9 percent, supported by improving global demand, while imports are expected to grow by 7.2 percent. The trade balance has been in consistent surpluses since February 2012. Balance of Trade in South Korea averaged 915.94 USD Million from 1966 until 2017, reaching an all time high of 12861.56 USD Million in April 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 Posts Largest Trade Surplus on Record in September


South Korea's trade surplus jumped to USD 13.8 billion in September of 2017 from USD 6.9 billion in the same month a year earlier, mainly supported by double-digit growth of exports, preliminary data showed.

Year-on-year, sales surged 35 percent to USD 55.1 billion, following a downwardly revised 17.3 percent rise in the prior month and beating consensus of a 21.6 percent growth. It was the ninth straight month of double-digit growth in outbound shipments, marking the largest monthly total in South Korean history, eclipsing the earlier record of USD 51.6 billion in October 2014. Exports of semiconductors posted record sales of USD 9.69 billion. It was the first time that monthly outbound shipment of computer chips topped the USD 9 billion. Meantime, sales of steel products more than doubled to reach a fresh record high of USD 4.67 billion.
 
Exports to China soared 23.4 percent from a year earlier, the longest stretch of sales to South Korea's bigger neighbour since 2014. In addition, sales to the US jumped by 28.9 percent and those to the EU jumped by 23 percent. Meanwhile, exports to Japan jumped by 16 percent, led by a rise in shipments of steeal and autoparts

Imports soared by 21.7 percent to USD 41.4 billion, compared to an upwardly revised 15.3 percent gain in a month earlier while market estimated a 18.2 percent increase.
 
In August 2017, trade surplus was downwardly revised to 6.6 USD billion. For the July-September period, sales jumped 24% to USD 151 billion, the largest since the first quarter 2011.
 
For 2017, exports are projected to rise 2.9 percent, supported by improving global demand, while imports are expected to grow by 7.2 percent. The trade balance has been in consistent surpluses since February 2012.
 
 

Ministry of Trade, Industry & Energy l Chusnul Ch Manan | chusnul@tradingeconomics.com
10/1/2017 3:19:52 AM



Calendar GMT Actual Previous Consensus TEForecast
2017-08-01 12:00 AM Balance of Trade $10.65B $10.77B
2017-09-01 12:00 AM Balance of Trade $7.01B $10.3B $10B
2017-10-01 01:10 AM Balance of Trade $13.8B $6.6B
2017-11-01 12:00 AM Balance of Trade $13.8B
2017-12-01 12:00 AM Balance of Trade


South Korea Trade Last Previous Highest Lowest Unit
Balance of Trade 13800.00 6600.00 13800.00 -4043.46 USD Million [+]
Exports 55100.00 47116.00 55100.00 14.75 USD Million [+]
Imports 41400.00 40500.00 45873.33 38.61 USD Million [+]
Current Account 6061.10 7261.30 12086.30 -3756.80 USD Million [+]
Current Account to GDP 7.00 7.70 10.70 -10.50 percent [+]
External Debt 407340.70 405686.50 452718.00 80766.40 USD Million [+]
Terms of Trade 105.60 106.70 237.00 86.10 Index Points [+]
Foreign Direct Investment 3991000.00 5745000.00 7638784.00 0.00 USD Thousand [+]
Capital Flows 9103.20 9785.30 12277.90 -3385.80 USD Million [+]
Tourism Revenues 1360100.00 956800.00 1765400.00 326500.00 USD Million [+]
Tourist Arrivals 1103506.00 1008671.00 1703495.00 213006.00 [+]
Gold Reserves 104.40 104.40 104.44 13.00 Tonnes [+]
Terrorism Index 0.23 0.00 2.62 0.00 [+]
Weapons Sales 534.00 165.00 534.00 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 October of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
13800.00 6600.00 13800.00 -4043.46 1966 - 2017 USD Million Monthly




balance of trade by Country

Last
Australia 989.00 Aug/17
Brazil 5178.00 Sep/17
Canada -3413.40 Aug/17
China 286.10 Sep/17
Euro Area 16086.90 Aug/17
France -4514.00 Aug/17
Germany 20000.00 Aug/17
India -8984.29 Sep/17
Indonesia 1760.00 Sep/17
Italy 2769.02 Aug/17
Japan 670.17 Sep/17
Mexico -2732.00 Aug/17
Netherlands 4073.00 Aug/17
Russia 6612.00 Aug/17
South Korea 13800.00 Sep/17
Spain -3226685.00 Aug/17
Switzerland 2917.62 Sep/17
Turkey -5873.11 Aug/17
United Kingdom -5626.00 Aug/17
United States -42395.00 Aug/17