South Korea’s trade surplus decreased sharply to USD 5.14 billion in November of 2018 from USD 7.69 billion in the same month of the preceding year, preliminary data showed. It was the smallest trade surplus since February, as imports rose more than exports. Year-on-year, imports increased 11.4 percent to USD 46.78 billion, after an upwardly revised 28.1 percent jump in a month earlier while markets had expected a 12 percent rise. Exports rose at a softer 4.5 percent to USD 51.92 billion, following a 22.7 percent surge in October and below consensus of a 6.6 percent gain. Considering the first eleven months of 2018, the trade surplus narrowed sharply to USD 66.31 billion from USD 89.71 billion in the corresponding period the prior year. Balance of Trade in South Korea averaged 1050.28 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.
Balance of Trade in South Korea is expected to be 3200.00 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 6450.00 in 12 months time. In the long-term, the South Korea Balance of Trade is projected to trend around 5800.00 USD Million in 2020, according to our econometric models.