South Korea Balance of Trade  1966-2018 | Data | Chart | Calendar

South Korea’s trade surplus fell to USD 5.8 billion in December of 2017 from USD 6.8 billion in the same month of the preceding year, as exports rose less than imports, preliminary data showed. Exports increased by 8.9 percent year-on-year to USD 49.1 billion, slower than a marginally revised 9.5 percent growth in a month earlier and below market estimates of a 10.3 percent increase. Imports went up 13 percent to USD 43.3 billion, after an upwardly revised 12.7 percent rise in the prior month and above expectations of a 12.1 percent growth. In November 2017, the trade surplus was downwardly revised to USD 7.6 billion. Considering full 2017, the trade surplus came in at USD 95.8 billion, larger than a USD 89.2 billion surplus in the previous year. Exports in 2017 grew by 15.8 percent compared to the same period the prior year to reach an all-time high of USD 573.9 billion. Imports in the year rose 17.7 percent on-year to USD 478.1 billion. Balance of Trade in South Korea averaged 963.57 USD Million from 1966 until 2017, reaching an all time high of 13450.43 USD Million in September 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 Trade Surplus Narrows 14.3% YoY in December


South Korea’s trade surplus fell to USD 5.8 billion in December of 2017 from USD 6.8 billion in the same month of the preceding year, as exports rose less than imports, preliminary data showed. Considering full 2017, the trade surplus came in at USD 95.8 billion, larger than a USD 89.2 billion surplus in the previous year.

In December, exports increased by 8.9 percent year-on-year to USD 49.1 billion, slower than a marginally revised 9.5 percent growth in a month earlier and below market estimates of a 10.3 percent increase. Still, it was the 14th straight month of rise in outbound shipments, the longest run of gains since 2011, with sales of memory chips and petrochemical products recording double-digit growth.

Imports went up 13 percent to USD 43.3 billion, after an upwardly revised 12.7 percent rise in the prior month and above expectations of a 12.1 percent growth.

In November 2017, the trade surplus was downwardly revised to USD 7.6 billion.

Considering 2017 as a whole, the trade surplus came in at USD 95.8 billion, larger than a USD 89.2 billion surplus in the previous year. Exports in 2017 grew by 15.8 percent compared to the same period the prior year to reach an all-time high of USD 573.9 billion. Sales of memory chips soared 57.4 percent, followed by those of petrochemical products (31.7 percent). Exports to China expanded by 14.2 percent, while those to the US went up by 3.2 percent. Also, sales to the EU countries increased by 16 percent. Imports in the year rose 17.7 percent to  USD 478.1 billion, due to an increase in equipment needed to produce memory chips and display products. 

For 2018, exports are projected to rise by 4 percent amid strengthening local currency and potential geopolitical risks.



Rida Husna | rida@tradingeconomics.com
1/1/2018 7:06:58 AM



Calendar GMT Actual Previous Consensus TEForecast
2017-11-01 12:00 AM Balance of Trade $7.30B $13.46B $7.30B $11.5B
2017-12-01 12:00 AM Balance of Trade $7.80B $7.14B 7.80B
2018-01-01 12:00 AM Balance of Trade $5.80B $7.60B $ 8.2B
2018-02-01 12:00 AM Balance of Trade $5.8B $ 7.1B
2018-03-01 12:00 AM Balance of Trade $ 6.5B
2018-04-01 12:00 AM Balance of Trade $ 6.4B


South Korea Trade Last Previous Highest Lowest Unit
Balance of Trade 5783.00 7632.93 13450.43 -4043.46 USD Million [+]
Exports 49068.00 49618.62 55128.00 14.75 USD Million [+]
Imports 43285.00 41985.69 45873.33 38.61 USD Million [+]
Current Account 7430.00 5720.00 12290.00 -3756.80 USD Million [+]
Current Account to GDP 7.00 7.70 10.70 -10.50 percent [+]
External Debt 409127.30 407340.70 452718.00 80766.40 USD Million [+]
Terms of Trade 104.80 104.80 237.00 86.10 Index Points [+]
Foreign Direct Investment 9361000.00 3991000.00 9361000.00 0.00 USD Thousand [+]
Capital Flows 10476.80 8429.00 12748.40 -3385.80 USD Million [+]
Tourism Revenues 1071100.00 1209500.00 1765400.00 326500.00 USD Million [+]
Tourist Arrivals 1093217.00 1165638.00 1703495.00 213006.00 [+]
Gold Reserves 104.40 104.40 104.44 13.00 Tonnes [+]
Weapons Sales 534.00 165.00 534.00 7.00 USD Million [+]
Terrorism Index 0.61 0.23 2.62 0.00 [+]

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 January of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
5783.00 7632.93 13450.43 -4043.46 1966 - 2017 USD Million Monthly




balance of trade by Country
Country Last
Australia -628.00 Nov/17
Brazil 4997.77 Dec/17
Canada -2540.40 Nov/17
China 546.85 Dec/17
Euro Area 26272.60 Nov/17
France -5692.00 Nov/17
Germany 23700.00 Nov/17
India -14880.19 Dec/17
Indonesia -270.00 Dec/17
Italy 4829.68 Nov/17
Japan 113.36 Nov/17
Mexico 399.21 Nov/17
Netherlands 6041.00 Nov/17
Russia 11515.00 Nov/17
South Korea 5783.00 Dec/17
Spain -1621000.00 Nov/17
Switzerland 2633.00 Nov/17
Turkey -6320.40 Nov/17
United Kingdom -2804.00 Nov/17
United States -50497.00 Nov/17


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