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

South Korea’s trade surplus declined to USD 9.7 billion in September of 2018 from USD 13.4 billion in the same month of the preceding year, preliminary data showed. In September, exports tumbled by 8.2 percent year-on-year to USD 50.6 billion, following a 8.7 percent gain in August, beating consensus of a 5.7 percent fall. Inbound shipments decreased by 2.1 percent year-on-year to USD 40.8 billion, after an upwardly revised 9.4 percent rise in a month earlier, missing market estimates of a 3.1 percent growth. Considering the first nine months of 2018, the trade surplus narrowed sharply to USD 55 billion from USD 75.1 billion in the same period the prior year. Balance of Trade in South Korea averaged 1035.75 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 in September


South Korea’s trade surplus declined to USD 9.7 billion in September of 2018 from USD 13.4 billion in the same month of the preceding year, preliminary data showed. Exports tumbled 8.2 percent year-on-year to USD 50.5 billion while imports fell at a slower 2.1 percent to USD 40.8 billion.

In September, exports slumped by 8.2 percent to USD 50.6 billion, the steepest decrease since July 2016, due to fewer working days linked to the Chuseok holiday and a high base effect, and after a 8.7 percent rise in August. Figures came worse than market expectations of a 5.7 percent fall . Exports of vehicles tumbled 22.4 percent, due to fewer working days, despite upbeat in exports to the US. On the other hand, exports of ships tumbled 55.5 percent, due to high base effect and slumping global demand. Also, sales of displays went down 12.1 percent. In contrast, sales of semiconductors jumped 28.3 percent, driven by solid sales of high-value memory chips and storage devices. Also, sales of petroleum goods grew 13.5 percent, supported by solid demand and higher oil prices.

Among major trading partners, sales to the US dropped 11.8 percent, due to a fall in demand for petroleum goods and wireless communication equipment, offsetting brisk sales of autos, machinery and computers.  Exports to China, South Korea’s largest trading partner, increased 7.8 percent, marking the 23rd straight month of growth, on the back of higher sales of general machinery, petrochemicals, petroleum products and steel.

Inbound shipments unexpectedly dropped by 2.1 percent year-on-year to USD 40.8 billion, after an upwardly revised 9.4 percent rise in a month earlier and missing market estimates of a 3.1 percent growth.

Considering the first nine months of 2018, the trade surplus narrowed sharply to USD 55 billion from USD 75.1 billion in the same period the prior year.
 
 


Ministry of Trade, Industry & Energy (MOTIE) l Chusnul Ch Manan | chusnul@tradingeconomics.com
10/1/2018 10:33:11 AM



Calendar GMT Actual Previous Consensus TEForecast
2018-08-01 12:00 AM Balance of Trade $7.0B $6.2B $ 6.5B
2018-09-01 12:00 AM Balance of Trade $6.9B $6.9B $ 3.3B
2018-10-01 12:00 AM Balance of Trade $9.7B $6.85B $ 5.4B
2018-11-01 12:00 AM Balance of Trade $9.7B $ 3.2B
2018-11-30 12:00 AM Balance of Trade $ 3.1B


South Korea Trade Last Previous Highest Lowest Unit
Balance of Trade 9746.00 6852.61 13419.36 -4043.46 USD Million [+]
Exports 50585.00 51197.58 55115.24 14.75 USD Million [+]
Imports 40839.00 44344.97 45873.33 38.61 USD Million [+]
Current Account 8439.80 8757.80 12287.50 -3756.80 USD Million [+]
Current Account to GDP 5.60 7.00 10.70 -10.50 percent [+]
External Debt 440543.60 433886.70 452718.00 80766.40 USD Million [+]
Terms of Trade 98.00 97.50 237.00 86.10 Index Points [+]
Foreign Direct Investment 10819799.00 4933728.00 10819799.00 0.00 USD Thousand [+]
Capital Flows 7271.70 10449.50 12440.20 -3385.80 USD Million [+]
Tourism Revenues 1381400.00 1239300.00 1765400.00 326500.00 USD Million [+]
Tourist Arrivals 1391727.00 1254833.00 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 October of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
9746.00 6852.61 13419.36 -4043.46 1966 - 2018 USD Million Monthly




balance of trade by Country
Country Last
Argentina -1127.00 Aug/18
Australia 1604.00 Aug/18
Brazil 4971.00 Sep/18
Canada 526.10 Aug/18
China 316.93 Sep/18
Euro Area 11671.20 Aug/18
France -5632.00 Aug/18
Germany 17174.00 Aug/18
India -13980.00 Sep/18
Indonesia 227.10 Sep/18
Italy 2564.00 Aug/18
Japan -444.59 Aug/18
Mexico -2590.00 Aug/18
Netherlands 3463.00 Aug/18
Russia 15797.00 Aug/18
Saudi Arabia 162782.00 Jun/18
Singapore 3685.30 Sep/18
South Africa 8794.70 Aug/18
South Korea 9746.00 Sep/18
Spain -3247700.00 Jul/18
Switzerland 1407.94 Aug/18
Turkey -2421.79 Aug/18
United Kingdom -1274.00 Aug/18
United States -53237.00 Aug/18


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