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.

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South Korea Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
4270.00 3632.06 13419.36 -4043.46 1966 - 2020 USD Million Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-05-01 12:00 AM Apr $-0.95B $5.04B $3.2B
2020-06-01 12:00 AM May $0.44B $-1.4B
2020-07-01 01:00 AM Jun $3.67B $0.44B $ 4.4B
2020-08-01 12:00 AM Jul $4.27B $3.67B $3.3B
2020-09-01 12:00 AM Aug $4.27B
2020-10-01 12:00 AM Sep $ 9.5B
2020-11-01 12:00 AM Oct
2020-12-01 12:00 AM Nov


News Stream
South Korea Trade Surplus Widens in July
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.
2020-08-01
South Korea Trade Surplus Narrows in June
South Korea's trade surplus decreased to USD 3.67 billion in June 2020 from USD 3.90 billion in the same month a year earlier, a preliminary estimate showed. Exports tumbled 10.9 percent after declining 23.7 percent in the previous month to the lowest level in over a decade, while imports plunged 11.4 percent after decreasing 21.1 percent to a three-and-a-half-year low. Considering the first six months of 2020, the surplus narrowed to USD 11.03 billion from USD 18.58 billion.
2020-07-01
South Korea Trade Surplus Narrows in May
South Korea's trade surplus decreased to USD 0.44 billion in May 2020 from USD 2.08 billion in the same month a year earlier, a preliminary estimate showed. Exports tumbled 23.7 percent to the lowest level in over a decade, while imports plunged 21.1 percent to a three-and-a-half-year low. Considering the first five months of the year, the trade surplus narrowed sharply to USD 7.36 billion from USD 14.68 billion in the corresponding period of 2019.
2020-06-01
South Korea Posts Trade Gap for First Time in Over 8 Years
South Korea reported a trade deficit of USD 0.95 billion in April of 2020, shifting from a surplus of USD 3.73 billion in the same month a year earlier, a preliminary estimate showed. This was the first trade gap since January 2012, reflecting damage caused by the COVID-19 crisis and a crash in the global oil market. Year-on-year, exports plunged 24.3 percent to USD 36.92 billion, the smallest figure since February 2016; while imports tumbled 15.9 percent to USD 37.87 billion. Considering the first four months of the year, the country posted a trade surplus of USD 8.53 billion, narrowing from a USD 12.59 billion surplus in the corresponding period of 2019.
2020-05-01

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.