South Korea Balance of Trade  1966-2016 | Data | Chart | Calendar

South Korea recorded a USD 5.30 billion trade surplus in August of 2016, compared to a USD 4.34 billion surplus a year earlier, as exports rose more than imports, preliminary data showed. Year-on-year, exports increased by 2.6 percent to USD 40.1 billion, following a 10.3 percent fall in July. It was the first rise since December 2015 while market expected a 0.6 percent gain. Imports unexpectedly went up 0.1 percent to USD 34.8 billion, after declining 13.6 percent in the preceding month and market consensus of a 0.6 percent growth. It was the first growth since September 2014. In July 2016, trade surplus was marginally revised to USD 7.60 billion. The trade balance has been in consistent surpluses since February 2012. Balance of Trade in South Korea averaged 786.94 USD Million from 1966 until 2016, reaching an all time high of 11497.44 USD Million in June of 2016 and a record low of -4043.45 USD Million in January of 2008. Balance of Trade in South Korea is reported by the Ministry of Trade, Industry & Energy (MOTIE).

South Korea Balance of Trade
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Actual Previous Highest Lowest Dates Unit Frequency
5300.00 7600.00 11497.44 -4043.45 1966 - 2016 USD Million Monthly
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 September of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-07-01 12:00 AM Jun $11.6B $7.0B $9.2B
2016-08-01 12:00 AM Jul $7.80B $11.5B $7.2B
2016-08-31 11:30 PM Aug $5.3B $7.6B $5.7B
2016-10-01 12:00 AM Sep $5.3B $10.1B
2016-11-01 12:00 AM Oct $7.8B
2016-12-01 12:00 AM Nov $10.9B

South Korea Trade Surplus Widens in August


South Korea recorded a USD 5.30 billion trade surplus in August of 2016, compared to a USD 4.34 billion surplus a year earlier, as exports rose more than imports, preliminary data showed.

Year-on-year, exports increased by 2.6 percent to USD 40.1 billion, following a 10.3 percent fall in July. It was the first rise since December 2015 while market expected a 0.6 percent gain.

Sales to China, the largest market for South Korean products, fell by 5.3 percent and marking the 14th straight month of decrease. Outbound shipments also declined by 4.8 percent to the US and the EU countries, respectively.

Imports unexpectedly went up 0.1 percent to USD 34.8 billion, after declining 13.6 percent in the preceding month and market consensus of a 3.3 percent decline. It was the first growth since September 2014

In July 2016, trade surplus was marginally revised to USD 7.60 billion.

The trade balance has been in consistent surpluses since February 2012.



Rida Husna | rida@tradingeconomics.com
9/1/2016 4:09:44 AM

South Korea Trade Last Previous Highest Lowest Unit
Balance of Trade 5300.00 7600.00 11497.44 -4043.45 USD Million [+]
Exports 40100.00 40100.00 51600.00 14.75 USD Million [+]
Imports 34800.00 33400.00 45899.19 38.61 USD Million [+]
Current Account 8706.10 12061.60 12061.60 -3756.80 USD Million [+]
Current Account to GDP 7.70 6.00 10.70 -10.50 percent [+]
External Debt 391777.80 389271.10 452750.80 80766.40 USD Million [+]
Terms of Trade 139.70 142.80 150.50 17.80 Index Points [+]
Foreign Direct Investment 6278639.00 4241377.00 7638784.00 114.00 USD Thousand [+]
Capital Flows 9390.70 9596.30 12277.90 -3385.80 USD Million [+]
Tourism Revenues 1287.60 1500.10 1765.40 326.50 USD Million [+]
Tourist Arrivals 1664303.00 1703495.00 1703495.00 213006.00 [+]
Gold Reserves 104.40 104.40 104.44 13.00 Tonnes [+]
Terrorism Index 0.00 0.00 2.62 0.00 [+]
Weapons Sales 105.00 163.00 331.00 7.00 USD Million [+]




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