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

South Korea's trade surplus increased to USD 7.01 billion in August of 2017 from USD 5.02 billion in the same month a year earlier, mainly supported by double-digit growth of exports, preliminary data showed. Year-on-year, sales jumped 17.4 percent to USD 47.11 billion, following a 19.5 percent rise in the prior month and beating consensus of a 14.3 percent growth. It was the eighth straight month of double-digit growth in outbound shipments, the longest stretch of increase at such pace since 2011. Imports increased by 14.2 percent to USD 40.10 billion, compared to an upwardly revised 15.5 percent gain in a month earlier while market estimated a 11.4 percent increase. In July 2017, trade surplus was downwardly revised to 10.3 USD billion. For 2017, exports are expected to increase 2.9 percent, supported by improving global demand, while imports are projected 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 Trade Surplus Widens 39.6% YoY in August


South Korea's trade surplus increased to USD 7.01 billion in August of 2017 from USD 5.02 billion in the same month a year earlier, mainly supported by double-digit growth of exports, preliminary data showed.

Year-on-year, sales jumped 17.4 percent to USD 47.11 billion, following a 19.5 percent rise in the prior month and beating consensus of a 14.3 percent growth. It was the eighth straight month of double-digit growth in outbound shipments, the longest stretch of increase at such pace since 2011. Exports of semiconductors posted record sales of USD 8.76 billion and those of flat screens hit record high of USD 860 million. 

Exports to China went up 15.6 percent from a year earlier, the longest stretch of sales to South Korea's bigger neighbour since 2014. In addition, sales to the EU soared by 43.2 percent and those to the US jumped by 23.3 percent. Meantime, exports to Japan grew by 5.5 percent, led by a rise in shipments of machinery and steel products in the run-up to the 2020 Tokyo Olympics. 

Imports increased by 14.2 percent to USD 40.10 billion, compared to an upwardly revised 15.5 percent gain in a month earlier while market estimated a 11.4 percent increase.

In July 2017, trade surplus was downwardly revised to 10.3 USD billion.

For 2017, exports are expected to increase 2.9 percent, supported by improving global demand, while imports are projected to grow by 7.2 percent. The trade balance has been in consistent surpluses since February 2012.

Rida Husna | rida@tradingeconomics.com
9/1/2017 4:03:54 AM



Calendar GMT Actual Previous Consensus TEForecast
2017-07-01 12:00 AM Balance of Trade $11.4B $5.68B
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 12:00 AM Balance of Trade $7.01B
2017-11-01 12:00 AM Balance of Trade
2017-12-01 12:00 AM Balance of Trade


South Korea Trade Last Previous Highest Lowest Unit
Balance of Trade 7013.00 10287.66 12861.56 -4043.46 USD Million [+]
Exports 47116.00 48843.00 51630.66 14.75 USD Million [+]
Imports 40102.00 38556.33 45873.33 38.61 USD Million [+]
Current Account 7261.30 7007.00 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 106.70 105.90 237.00 86.10 Index Points [+]
Foreign Direct Investment 5745000.00 3851000.00 7638784.00 0.00 USD Thousand [+]
Capital Flows 9785.30 8689.70 12277.90 -3385.80 USD Million [+]
Tourism Revenues 956800.00 1012900.00 1765400.00 326500.00 USD Million [+]
Tourist Arrivals 1008671.00 991802.00 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 September of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
7013.00 10287.66 12861.56 -4043.46 1966 - 2017 USD Million Monthly




balance of trade by Country

Last
Australia 460.00 Jul/17
Brazil 5599.00 Aug/17
Canada -3040.40 Jul/17
China 419.92 Aug/17
Euro Area 23156.00 Jul/17
France -5968.00 Jul/17
Germany 19500.00 Jul/17
India -11643.96 Aug/17
Indonesia 1722.60 Aug/17
Italy 6560.39 Jul/17
Japan 113.64 Aug/17
Mexico -1522.60 Jul/17
Netherlands 4711.00 Jul/17
Russia 3970.00 Jul/17
South Korea 7013.00 Aug/17
Spain -2099000.00 Jul/17
Switzerland 2173.00 Aug/17
Turkey -8842.94 Jul/17
United Kingdom -2872.00 Jul/17
United States -43689.00 Jul/17