South Korea Balance of Trade 1966-2014 | Data | Chart | Calendar

South Korea recorded a trade surplus of 7500 USD Million in October of 2014. Balance of Trade in South Korea averaged 538.73 USD Million from 1966 until 2014, reaching an all time high of 7500 USD Million in October of 2014 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).

   
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South Korea Balance of Trade


Actual Previous Highest Lowest Dates Unit Frequency
7500.00 3430.00 7500.00 -4043.45 1966 - 2014 USD Million Monthly
Since 2009 South Korea has been recording trade surpluses due to exports growth. Major exports are high-tech manufactured products like semiconductors, machinery, automobiles, ships, LCD and wireless communication devices. South Korea imports mainly oil, semiconductors and natural gas. Main trading partners are: China (25 percent of total exports and 16 percent of total imports), United States (10 percent of exports and 8 percent of imports) and European Union (9 percent of both exports and imports). Others include: Japan and ASEAN. This page provides - South Korea Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - South Korea Balance of Trade - was last refreshed on Saturday, November 29, 2014.


South Korea Trade Surplus at Record High in October


In October of 2014, South Korean trade surplus increased sharply to USD 7.50 billion from USD 4.87 billion a year earlier, boosted by increased demand from the US and China. Enjoying the black balance since February of 2012, the country saw the latest trade surplus is the largest in history.

Year-on-year,  exports amounted to a USD 51.76 billion USD, a 2.5 percent increase, following a revised 6.9 percent gain in September. Overseas shipments to the United States jumped 25.0 percent from a year earlier, the fastest gain since March of 2012.  Exports to China, South Korea's largest sales destination, rose 3.7 percent. In contrast, demand from the European Union slumped with exports falling 8.6 percent.

Imports fell 3.0 percent to 44.26 billion USD, compared with a 8 percent increase in the previous month.

In September, South Korea recorded a revised USD 3.43 billion.

Rida l rida@tradingeconomics.com
11/1/2014 2:52:15 AM


Recent Releases

South Korea Trade Surplus Narrows in September
South Korean trade surplus declined to USD 3.36 billion in September of 2014 from USD 3.59 billion a year earlier, marking the 32nd straight month of surplus, as imports grew faster than exports. In August, the country posted a revised USD 3.37 billion trade surplus. Published on 2014-10-01

South Korea Trade Surplus Shrinks in August
South Korean trade surplus declined to USD 3.40 billion in August of 2014 from USD 4.72 billion a year earlier as imports rose, while exports went down slightly. Published on 2014-09-01


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-09-01 01:00 AM
Balance of Trade  Aug 2014
$ 3.40B $2.4B (R) $2.6B
2014-10-01 01:00 AM
Balance of Trade  Sep 2014
$ 3.36B $ 3.37B (R) $ 3B
2014-11-01 12:00 AM
Balance of Trade  Oct 2014
$ 7.50B $ 3.43B (R) $ 5.56B $ 3B
2014-12-01 12:00 AM
Balance of Trade  Nov 2014
$ 7.50B $ 5.2B


South Korea Trade Last Previous Highest Lowest Unit
Balance of Trade 7500.00 3430.00 7500.00 -4043.45 USD Million [+]
Exports 51800.00 47691.00 51800.00 14.75 USD Million [+]
Imports 44300.00 44300.00 45899.19 38.61 USD Million [+]
Current Account 9010.00 7410.00 11107.90 -3756.80 USD Million [+]
Current Account to GDP 5.80 4.30 11.90 -8.30 percent [+]
External Debt 429053.30 442174.10 442174.10 83622.00 USD Million [+]
Terms of Trade 118.10 111.60 123.60 13.10 Index Points [+]
Foreign Direct Investment 4484000.00 5272619.00 7065714.00 114.00 USD Thousand [+]
Capital Flows -8763.50 -7791.20 3027.80 -11596.00 USD Million [+]
Tourist Arrivals 1317482.00 1245777.00 1454078.00 213006.00 [+]
Gold Reserves 104.44 104.44 104.44 13.00 Tonnes [+]
Gold Reserves 104.44 104.44 104.44 13.00 Tonnes [+]


Balance of Trade Reference Previous Highest Lowest Unit
Australia -2261.00 Sep/14 -1013.00 2227.00 -3892.00 AUD Million [+]
Brazil -1177.00 Oct/14 -939.00 5659.37 -4058.14 USD Million [+]
Canada 710.00 Sep/14 -463.00 8524.80 -2902.90 CAD Million [+]
China 454.05 Oct/14 309.43 498.30 -319.71 USD Hundred Million [+]
Euro Area 18486.50 Sep/14 8632.50 21553.00 -16638.00 EUR Million [+]
France -4715.00 Sep/14 -5025.00 2674.00 -7086.00 EUR Million [+]
Germany 21900.00 Sep/14 14100.00 23400.00 -535.91 EUR Million [+]
India -13350.00 Oct/14 -14247.42 258.90 -20210.90 USD Million [+]
Indonesia -270.30 Sep/14 -312.00 4641.92 -2329.13 USD Million [+]
Italy 2014.00 Sep/14 2056.00 6923.00 -6389.30 EUR Million [+]
Japan -709.99 Oct/14 -958.30 1608.67 -2795.04 JPY Billion [+]
Mexico 143.00 Oct/14 590.00 1710.25 -3292.30 USD Million [+]
Netherlands 3498.00 Sep/14 2848.00 4948.70 -907.60 EUR Million [+]
Russia 12953.00 Sep/14 15848.00 20356.00 -185.00 USD Million [+]
South Korea 7500.00 Oct/14 3430.00 7500.00 -4043.45 USD Million [+]
Spain -2373700.00 Sep/14 -2771962.00 634935.00 -9834766.00 EUR Thousand [+]
Switzerland 3255.00 Oct/14 2489.00 3901.00 -1478.68 CHF million [+]
Turkey -6252.00 Oct/14 -6925.00 24.51 -10453.06 USD Million [+]
United Kingdom -2838.00 Sep/14 -1768.00 2946.00 -5269.00 GBP Million [+]
United States -43030.00 Sep/14 -39990.00 1946.00 -67823.00 USD Million [+]