South Korea's trade surplus increased to USD 5.98 billion in October 2020 from USD 5.25 billion in the same month a year earlier, a preliminary estimate showed. Exports fell 3.6 percent from a year earlier to USD 44.9 billion, while imports dropped 5.8 percent to USD 39 billion, amid the coronavirus pandemic. Considering the first ten months of 2020, the surplus widened slightly to USD 33.69 billion from USD 33.60 billion in the same period of 2019. source: Ministry of Trade, Industry & Energy (MOTIE)
Balance of Trade in South Korea averaged 1128.95 USD Million from 1966 until 2020, 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. 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 - data, historical chart, forecasts and calendar of releases - was last updated on November of 2020.
Balance of Trade in South Korea is expected to be 5800.00 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 5800.00 in 12 months time. In the long-term, the South Korea Balance of Trade is projected to trend around 5800.00 USD Million in 2021, according to our econometric models.