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

South Korea’s trade surplus increased to USD 6.9 billion in March of 2018 from USD 6.1 billion in the same month of the preceding year. It was the largest trade surplus since November 2017, as exports rose more than imports, preliminary data showed. In March, exports grew by 6.1 percent year-on-year to USD 51.6 billion, far above market expectations of a 0.4 percent increase and after a downwardly revised 3.9 percent growth in the prior month. It marked the 17th straight month of rise in outbound shipments, the longest run of gains since 2011. Imports went up by 5 percent to USD to USD 44.7 billion, way below consensus of a 13.2 percent growth and following an upwardly revised 14.9 percent increase in a month earlier. In February, the trade surplus was downwardly revised to USD 3.2 billion. Considering the first three months of 2018, the trade surplus stood at USD 13.7 billion, down from USD 15.6 billion surplus in the same period 2017. Balance of Trade in South Korea averaged 979.95 USD Million from 1966 until 2018, 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.

South Korea Balance of Trade
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South Korea Trade Surplus Largest in 4 Months


South Korea’s trade surplus increased to USD 6.9 billion in March of 2018 from USD 6.1 billion in the same month of the preceding year. It was the largest trade surplus since November 2017, as exports rose more than imports, preliminary data showed.

In March, exports grew by 6.1 percent year-on-year to USD 51.6 billion, far above market expectations of a 0.4 percent increase and after a downwardly revised 3.9 percent growth in the prior month.  It was the 17th straight month of increase in outbound shipments, the longest run of gains since 2011. Sales surged for: chips (44.2 percent) and personal computers (62.5 percent). In addition, exports of machinery increased by 6.1 percent, followed by those of steel products (6.3 percent) and petroleum products (0.3 percent). In contrast, sales fell for automobiles (-8.6 percent), auto parts (-11.1 percent) and flat displays (-16.5 percent).

Exports to China soared 16.6 percent and marking the eight straight month of growth. Also, sales the EU countries jumped  by 24.2 percent. On the other hand, outbound shipments to the US fell by 1 percent, due to lower sales of petrochemical products and cars.

Imports went up by 5 percent to USD 44.7 billion, way below consensus of a 13.2 percent growth and following an upwardly revised 14.9 percent increase in a month earlier.

In February, the trade surplus was downwardly revised to USD 3.2 billion.

Considering the first three months of 2018, the trade surplus stood at USD 13.7 billion, down from USD 15.6 billion surplus in the same period 2017. Exports in the period grew by 10.3 percent to USD 145.7 billion, while imports rose 13.4 percent to USD 132 billion.

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

In 2017, outbound shipments grew by 15.8 percent compared to the same period the prior year to USD 573.9 billion.


Rida Husna | rida@tradingeconomics.com
4/1/2018 1:31:22 PM



Calendar GMT Actual Previous Consensus TEForecast
2018-02-01 12:00 AM Balance of Trade $3.7B $5.54B $ 7B
2018-03-01 12:00 AM Balance of Trade $3.3B $3.6B $ 4.9B
2018-04-01 12:00 AM Balance of Trade $6.9B $3.2B $ 6B
2018-05-01 12:00 AM Balance of Trade $6.9B $ 3.7B
2018-06-01 12:00 AM Balance of Trade $ 3.5B
2018-07-01 12:00 AM Balance of Trade $ 8.8B


South Korea Trade Last Previous Highest Lowest Unit
Balance of Trade 6865.00 3244.09 13419.36 -4043.46 USD Million [+]
Exports 51600.00 44876.00 55118.41 14.75 USD Million [+]
Imports 44700.00 41565.00 45873.33 38.61 USD Million [+]
Current Account 4030.00 2680.00 12290.00 -3756.80 USD Million [+]
Current Account to GDP 5.60 7.00 10.70 -10.50 percent [+]
External Debt 418823.50 409127.30 452718.00 80766.40 USD Million [+]
Terms of Trade 101.90 101.60 237.00 86.10 Index Points [+]
Foreign Direct Investment 4934000.00 9361000.00 9361000.00 0.00 USD Thousand [+]
Capital Flows 4199.70 4106.20 12748.40 -3385.80 USD Million [+]
Tourism Revenues 1134000.00 1076900.00 1765400.00 326500.00 USD Million [+]
Tourist Arrivals 1045415.00 956036.00 1703495.00 213006.00 [+]
Gold Reserves 104.40 104.40 104.44 13.00 Tonnes [+]
Terrorism Index 0.61 0.23 2.62 0.00 [+]
Weapons Sales 587.00 585.00 587.00 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 April of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
6865.00 3244.09 13419.36 -4043.46 1966 - 2018 USD Million Monthly




balance of trade by Country
Country Last
Australia 825.00 Feb/18
Brazil 6280.75 Mar/18
Canada -2686.00 Feb/18
China -49.83 Mar/18
Euro Area 18897.50 Feb/18
France -5186.00 Feb/18
Germany 18400.00 Feb/18
India -13690.00 Mar/18
Indonesia 1091.70 Mar/18
Italy 3104.28 Feb/18
Japan 797.35 Mar/18
Mexico 1062.00 Feb/18
Netherlands 4514.00 Feb/18
Russia 12192.00 Feb/18
South Korea 6865.00 Mar/18
Spain -2167000.00 Feb/18
Switzerland 3215.34 Feb/18
Turkey -5760.71 Feb/18
United Kingdom -965.00 Feb/18
United States -57591.00 Feb/18


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