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

South Korea’s trade surplus narrowed to USD 6.6 billion in April of 2018 from USD 12.9 billion in the same month of the preceding year. Exports dropped for the first time in 18 months, declining by 1.5 percent to USD 50.1 billion and missing market expectations of a 4.1 percent increase. On the other hand, imports surged by 14.5 percent to USD 43.4 billion, but still below consensus of a 18.4 percent growth. Considering the first four months of the year, the trade surplus narrowed to USD 19.9 billion from USD 28.5 billion surplus in the same period 2017. Balance of Trade in South Korea averaged 988.16 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 Narrows Sharply in April


South Korea’s trade surplus narrowed to USD 6.6 billion in April of 2018 from USD 12.9 billion in the same month of the preceding year, as exports fell for the first time in 18 months and imports rose less than expected, preliminary data showed.

Exports dropped 1.5 percent from a year earlier to USD 50.1 billion in April, missing market expectations of a 4.1 percent increase and following a 6.1 percent growth in the previous month. The fall marked the first month of decline in exports since October 2016, due to a high base of comparison in April 2017 and softer global demand. Sales decreased for:  ships (-75 percent), wireless communication equipment (- 40.7 percent), flat displays (-16.2 percent), automobiles (-8.5 percent), and steel products (-7.4 percent). In contrast, sales increased for :  chips (37 percent), machinery (13.1 percent), and petrochemical goods (11.7 percent).

Among major trading partners, exports to the United States went down 1.8 percent, the third straight month of decline, as sales of cars and smartphones fell. Also, exports to the EU slumped 21.2 percent and those to Vietnam dropped 17.6 percent. On the other hand, outbond shipments to China surged 23 percent and marked 18 consecutive months of expansion, driven by memory chips, petrochemical products and machinery.
 
Meanwhile, imports jumped 14.5 percent to USD 43.4 billion, below market consensus of a 18.4 percent growth but beating an upwardly revised 5.2 percent increase in a month earlier.

Considering the first four months of the year, the trade surplus narrowed to USD 19.9 billion from USD 28.5 billion surplus in the same period 2017. Imports surged 13.8 percent to USD 175.6 billion and exports grew at a slower 6.9 percent to USD 195.5 billion.
 
For 2018, exports are expected to expand 4 percent amid strengthening local currency and potential geopolitical risks.


Ministry of Trade, Industry & Energy (MOTIE) l Chusnul Ch Manan | chusnul@tradingeconomics.com
5/1/2018 8:11:18 AM



Calendar GMT Actual Previous Consensus TEForecast
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 $6.6B $6.8B $ 3.7B
2018-06-01 12:00 AM Balance of Trade $6.6B $ 3.5B
2018-07-01 12:00 AM Balance of Trade $ 8.8B
2018-08-01 12:00 AM Balance of Trade $ 3.4B


South Korea Trade Last Previous Highest Lowest Unit
Balance of Trade 6611.00 6775.38 13419.36 -4043.46 USD Million [+]
Exports 50060.00 51583.47 55115.24 14.75 USD Million [+]
Imports 43449.00 44808.09 45873.33 38.61 USD Million [+]
Current Account 5180.00 3960.00 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 100.40 101.90 237.00 86.10 Index Points [+]
Foreign Direct Investment 4934000.00 9361000.00 9361000.00 0.00 USD Thousand [+]
Capital Flows 4217.80 4199.70 12748.40 -3385.80 USD Million [+]
Tourism Revenues 1393700.00 1134000.00 1765400.00 326500.00 USD Million [+]
Tourist Arrivals 1366100.00 1045415.00 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 May of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
6611.00 6775.38 13419.36 -4043.46 1966 - 2018 USD Million Monthly




balance of trade by Country
Country Last
Australia 1527.00 Mar/18
Brazil 6140.00 Apr/18
Canada -4139.60 Mar/18
China 287.80 Apr/18
Euro Area 26932.60 Mar/18
France -5258.00 Mar/18
Germany 25187.00 Mar/18
India -13720.00 Apr/18
Indonesia -1629.30 Apr/18
Italy 4531.06 Mar/18
Japan 625.98 Apr/18
Mexico 1917.55 Mar/18
Netherlands 5280.00 Mar/18
Russia 15001.00 Mar/18
South Korea 6611.00 Apr/18
Spain -830631.00 Mar/18
Switzerland 2315.30 Mar/18
Turkey -5855.00 Mar/18
United Kingdom -3091.00 Mar/18
United States -48956.00 Mar/18


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