South Korea Balance of Trade 1966-2015 | Data | Chart | Calendar

South Korea recorded a trade surplus of 7760 USD Million in July of 2015. Balance of Trade in South Korea averaged 638.63 USD Million from 1966 until 2015, reaching an all time high of 9980 USD Million in June of 2015 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
7760.00 9980.00 9980.00 -4043.45 1966 - 2015 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 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. Content for - South Korea Balance of Trade - was last refreshed on Friday, August 28, 2015.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-06-01 01:00 AM May $6.30B $8.5B $ 5.5B
2015-07-01 01:00 AM Jun $10.20B $6.30B $ 5.3B
2015-08-01 01:00 AM Jul $7.80B $10.0B(R) $10B $ 8.5B
2015-09-01 01:00 AM Aug $7.80B $7.41B
2015-10-01 01:00 AM Sep $8.2B
2015-11-01 12:00 AM Oct $8.5B


South Korea Trade Surplus Falls from Record High


South Korea trade surplus was at USD 7.76 billion in July of 2015, up from USD 2.34 billion a year earlier but missing market forecasts, as imports fell more than exports.

Year-on-year, exports in July fell by 3.3 percent to USD 46.60 billion, the seventh straight monthly decline, after registering a revised 2.4 percent drop in the preceding month. Sales of petroleum products were down 28.1 percent and those of petrochemical products declined by 17.2 percent. Exports of  automobile also shrank by 6.2 percent.

Outbond shipments to China, the world's largest market for South Korean products, declined by 6.4 percent year-on-year, the sharpest drop since a 7.7 percent decline in February. Sales also fell to Japan (-28.0 percent) and the EU countries (-5.6 percent). In contrast, sales to the US rose by 1.8 percent, following a 10.9 percent in the previous month.

Imports declined by 15.3 percent to USD 38.85 billion, following a 13.6 percent decrease in June.

In June 2015, the country posted a revised USD9.98 billion trade surplus, the highest in record.

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


Rida Husna l rida@tradingeconomics.com
8/1/2015 2:47:16 AM


Recent Releases

South Korea Trade Surplus Hits Fresh Record High in June
South Korea trade surplus was at USD 10.25 billion in June of 2015, up from USD 5.35 billion a year earlier and beating market consensus. It is the largest surplus on record, as imports fell more than exports.
Published on 2015-07-01

South Korea Trade Surplus Falls from Record High in May
South Korea trade surplus was at USD 6.32 billion in May of 2015, up from USD 4.97 billion a year earlier but significantly down from a record high of USD 8.48 billion in the preceding month, as imports fell more than exports.
Published on 2015-06-01

South Korea Trade Surplus Hits Fresh Record High in April
South Korea trade surplus widened to USD 8.49 billion in April of 2015 from USD 4.39 billion a year earlier, reaching new all time high, as exports and imports fell more than expected.
Published on 2015-05-01

South Korea Trade Surplus Hits Record High in March
South Korea trade surplus widened to USD 8.39 billion in March of 2015 from USD 3.50 billion a year earlier, reaching an all time high, as imports fell more than exports.
Published on 2015-04-01


South Korea Trade Last Previous Highest Lowest Unit
Balance of Trade 7760.00 9980.00 9980.00 -4043.45 USD Million [+]
Exports 46609.00 46947.00 51600.00 14.75 USD Million [+]
Imports 38847.00 36704.00 45899.19 38.61 USD Million [+]
Current Account 12186.50 8618.10 12186.50 -3756.80 USD Million [+]
Current Account to GDP 6.30 5.80 11.90 -8.30 percent [+]
External Debt 418910.40 425449.20 442174.10 83622.00 USD Million [+]
Terms of Trade 138.60 136.70 139.40 13.10 Index Points [+]
Foreign Direct Investment 5316000.00 3555000.00 7065714.00 114.00 USD Thousand [+]
Capital Flows -10507.70 -8812.40 3027.80 -11596.00 USD Million [+]
Tourist Arrivals 629737.00 750925.00 1454078.00 213006.00 [+]
Gold Reserves 104.44 104.44 104.44 13.00 Tonnes [+]
Tourism Revenues 945.00 1516.00 1765.00 327.00 USD Million [+]


Balance of Trade Reference Previous Highest Lowest Unit
Australia -2933.00 Jun/15 -2677.00 2254.00 -4156.00 AUD Million [+]
Brazil 2379.00 Jul/15 4527.00 5659.37 -4058.14 USD Million [+]
Canada -476.00 Jun/15 -2992.00 8524.80 -3853.00 CAD Million [+]
China 430.25 Jul/15 465.36 606.19 -319.71 USD Hundred Million [+]
Euro Area 26368.70 Jun/15 18800.00 26368.70 -16748.10 EUR Million [+]
France -2658.00 Jun/15 -3999.00 2674.00 -7086.00 EUR Million [+]
Germany 24000.00 Jun/15 19500.00 24000.00 -535.91 EUR Million [+]
India -12812.46 Jul/15 -10830.00 258.90 -20210.90 USD Million [+]
Indonesia 1330.00 Jul/15 528.00 4641.92 -2329.13 USD Million [+]
Italy 2808.95 Jun/15 4140.00 6923.00 -6389.30 EUR Million [+]
Japan -268.06 Jul/15 -69.00 1608.67 -2795.04 JPY Billion [+]
Mexico -2267.00 Jul/15 -749.00 1710.25 -3292.30 USD Million [+]
Netherlands 4760.00 Jun/15 3280.00 6211.40 -907.60 EUR Million [+]
Russia 13775.00 Jun/15 15309.00 20356.00 -185.00 USD Million [+]
South Korea 7760.00 Jul/15 9980.00 9980.00 -4043.45 USD Million [+]
Spain -2046007.00 Jun/15 -1657308.00 634935.00 -9834766.00 EUR Thousand [+]
Switzerland 3741.00 Jul/15 3509.00 3894.91 -1478.68 CHF million [+]
Turkey -6205.89 Jun/15 -6753.00 24.51 -10453.06 USD Million [+]
United Kingdom -1601.00 Jun/15 -885.00 2946.00 -5397.00 GBP Million [+]
United States -43840.00 Jun/15 -40940.00 1946.00 -67823.00 USD Million [+]