South Korea Balance of Trade  1966-2017 | Data | Chart | Calendar

South Korea recorded a USD 7.0 billion trade surplus in December of 2016, compared to a USD 6.9 billion surplus a year earlier, as exports rose 6.4 percent from a year earlier to USD 45.07 billion while imports went up 7.3 percent to USD 38.07 billion, preliminary data showed. In November 2016, trade surplus was upwardly revised to USD 8.2 billion. Considering full year of 2016, sales declined by 5.9 percent to USD 495.5 billion, slower than a 8.0 percent drop in 2015. Purchases were down by 7.1 percent to USD 405.7 billion, much less than a 16.9 percent decline in the preceding year. That brought the trade surplus during of USD 89.8 billion, down slightly from USD 90.3 billion in a year earlier. For 2017, exports are expected to rise 2.9 percent, supported by improving global demand, while imports are projected to grow by 7.2 percent. Balance of Trade in South Korea averaged 827.09 USD Million from 1966 until 2016, reaching an all time high of 11371.62 USD Million in June of 2016 and a record low of -4043.45 USD Million in January of 2008.

South Korea Balance of Trade
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-11-01 12:00 AM Oct $7.2B $6.9B $7.8B
2016-12-01 12:00 AM Nov $8.0B $6.97B $10.9B
2017-01-01 12:00 AM Dec $7.0B $8.2B $7.8B
2017-02-01 12:00 AM Jan $7.0B $6.8B
2017-03-01 12:00 AM Feb
2017-04-01 12:00 AM Mar




South Korea Trade Surplus Little Changed in December


South Korea recorded a USD 7.0 billion trade surplus in December of 2016, compared to a USD 6.9 billion surplus a year earlier, as exports rose 6.4 percent from a year earlier to USD 45.07 billion while imports went up 7.3 percent to USD 38.07 billion, preliminary data showed.

In December, sales grew for the second straight month and in line with market expectations. Outbound shipments rose for semi-conductors (+19.9 percent), machinery and petrochemicals. In contrast, sales dropped for automobiles (-7.9 percent) and wireless devices (-2.0 percent).

Exports jumped 30.8 percent to the EU countries, followed by those to China (+9.6 percent). In contrast, exports to China decreased by 2.3 percent.

In November 2016, trade surplus was upwardly revised to USD 8.2 billion.

Considering full year of 2016, sales declined by 5.9 percent to USD 495.5 billion, slower than a 8.0 percent drop in 2015. Purchases were down by 7.1 percent to USD 405.7 billion, much less than a 16.9 percent decline in the preceding year. That brought the trade surplus during of USD 89.8 billion, down slightly from USD 90.3 billion in a year earlier.

For 2017, exports are expected to rise 2.9 percent, supported by improving global demand, while imports are projected to grow by 7.2 percent. For the year, trade conditions will likely face downside risks from possible US protectionist measures under the administration of president-elect Donald Trump and a slowdown in China.

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

Rida Husna | rida@tradingeconomics.com
1/1/2017 2:35:13 AM



South Korea Trade Last Previous Highest Lowest Unit
Balance of Trade 7000.00 8200.00 11371.62 -4043.45 USD Million [+]
Exports 45070.00 45410.00 51600.00 14.75 USD Million [+]
Imports 38070.00 37210.00 45899.19 38.61 USD Million [+]
Current Account 8989.20 8719.30 12086.30 -3756.80 USD Million [+]
Current Account to GDP 7.70 6.00 10.70 -10.50 percent [+]
External Debt 400400.00 391777.80 452750.80 80766.40 USD Million [+]
Terms of Trade 105.30 103.40 237.00 86.10 Index Points [+]
Foreign Direct Investment 449500.00 6278639.00 7638784.00 114.00 USD Thousand [+]
Capital Flows 8863.90 7034.70 12277.90 -3385.80 USD Million [+]
Tourism Revenues 1456.00 1317.10 1765.40 326.50 USD Million [+]
Tourist Arrivals 1309055.00 1587797.00 1703495.00 213006.00 [+]
Gold Reserves 104.40 104.40 104.44 13.00 Tonnes [+]
Terrorism Index 0.23 0.00 2.62 0.00 [+]
Weapons Sales 105.00 163.00 331.00 7.00 USD Million [+]



South Korea Balance of Trade Notes

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 January of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
7000.00 8200.00 11371.62 -4043.45 1966 - 2016 USD Million Monthly



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