South Korea’s trade surplus decreased to USD 5.22 billion in March 2019 from USD 6.41 billion in the same month a year earlier, a preliminary data showed. Year-on-year, exports dropped by 8.2 percent to USD 47.11 billion, while imports declined 6.7 percent to USD 41.89 billion. Considering the first three months of 2019, the trade surplus narrowed to USD 9.31 billion from USD 12.63 billion in the corresponding period the prior year. Balance of Trade in South Korea averaged 1063.92 USD Million from 1966 until 2019, 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 6440.00 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 4500.00 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.