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

South Korea recorded a trade surplus of 3400 USD Million in August of 2014. Balance of Trade in South Korea averaged 522.03 USD Million from 1966 until 2014, reaching an all time high of 6794.27 USD Million in June of 2010 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


Actual Previous Highest Lowest Dates Unit Frequency
3400.00 2398.95 6794.27 -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 Wednesday, September 17, 2014.


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.

Exports fell 0.1 percent to USD 46.28 billion in August of 2014 from a year earlier, due to fewer working days in 2014. The fall was also attributed to a large drop of automobile exports (-16.9 percent yoy) and sales of auto-parts (-9.6 percent), both accounting for around 14 percent of total exports.

Exports to the US grew 7.1 percent yoy and those to the European Union countries rose 9.7 percent. In contrast, shipments to China, the top destination market for South Korean products, and to Japan fell by 3.8 percent and 8.0 percent respectively in August of 2014.

Imports amounted to USD 42.87 billion in August of 2014, a 3.1 percent gain from August of 2013, largely due to a sharp increase of raw materials purchases, including oil. Imports of crude oil accelerated to 19.4 percent yoy while inbound shipments of petroleum products increased 11 percent.

In July of 2014, the country posted a revised USD 2.4 billion trade surplus.

Ministry of Trade, Industry and Energy l Rida l rida@tradingeconomics.com
9/1/2014 10:26:59 AM


Recent Releases

South Korea Trade Surplus Narrows in July
South Korean trade surplus fell to USD 2.52 billion in July of 2014 from a revised USD 5.45 billion surplus in the previous month due to a surge in imports, but remained almost unchanged from USD 2.45 billion a year earlier. Published on 2014-08-01

South Korea Trade Surplus Narrows in June
South Korea trade surplus declined to USD 5.29 billion in June of 2014 from USD 5.97 billion a year earlier as imports grew faster than exports. Published on 2014-07-01


Calendar GMT Country Event Reference Actual Previous Consensus Forecast
2014-06-01 01:00 AM South Korea
Balance of Trade
May 2014 $ 5.3B $ 4.46B $ 3.5B
2014-07-01 01:00 AM South Korea
Balance of Trade
Jun 2014 $ 5.3B $ 5.3B $ 6.4B $ 3.9B
2014-08-01 01:00 AM South Korea
Balance of Trade
Jul 2014 $2.4B (R) $ 5.5B (R) $ 2.74B $ 3.5B
2014-09-01 01:00 AM South Korea
Balance of Trade
Aug 2014 $ 3.40B $2.4B (R) $2.6B
2014-10-01 01:00 AM South Korea
Balance of Trade
Sep 2014 $ 3.40B $ 3B


Trade Last Previous Highest Lowest Unit
Balance of Trade 3400.00 2398.95 6794.27 -4043.45 USD Million [+]
Exports 46233.74 48298.15 50480.48 14.75 USD Million [+]
Imports 42864.82 45899.19 45899.19 38.61 USD Million [+]
Current Account 7910.00 7919.70 11107.90 -3756.80 USD Million [+]
Current Account to GDP 5.80 4.30 11.90 -8.30 Percent [+]
External Debt 442174.10 425353.20 425353.20 83622.00 USD Million [+]
Terms of Trade 119.90 112.80 123.60 13.10 Index Points [+]
Foreign Direct Investment 5272619.00 5061748.00 7065714.00 114.00 USD Thousand [+]
Capital Flows -9839.50 -8136.70 3027.80 -11596.00 USD Million [+]
Tourist Arrivals 1354753.00 1273627.00 1358909.00 213006.00 [+]
Gold Reserves 104.44 104.44 104.44 13.00 Tonnes [+]


Balance of Trade Reference Previous Highest Lowest Unit
Australia -1359.00 Jul/14 -1564.00 2225.00 -3907.00 AUD Million [+]
Brazil 1168.00 Aug/14 1573.96 5659.37 -4058.14 USD Million [+]
Canada 2580.00 Jul/14 1830.00 8524.80 -2902.90 CAD Million [+]
China 498.30 Aug/14 473.01 498.30 -319.71 USD Hundred Million [+]
Euro Area 21200.00 Jul/14 16700.00 21780.80 -16638.00 EUR Million [+]
France -5539.00 Jul/14 -5576.00 2674.00 -7086.00 EUR Million [+]
Germany 23400.00 Jul/14 16600.00 23400.00 -535.91 EUR Million [+]
India -10838.56 Aug/14 -12228.60 258.90 -20210.90 USD Million [+]
Indonesia 130.00 Jul/14 -288.00 4641.92 -2329.13 USD Million [+]
Italy 3236.30 Jun/14 3717.91 6382.90 -6389.30 EUR Million [+]
Japan -963.99 Jul/14 -823.20 1608.67 -2795.04 JPY Billion [+]
Mexico -979.88 Jul/14 423.73 1710.25 -3292.30 USD Million [+]
Netherlands 2724.00 Jul/14 4455.40 4948.70 -907.60 EUR Million [+]
Russia 17068.00 Jul/14 13957.00 20356.00 -185.00 USD Million [+]
South Korea 3400.00 Aug/14 2398.95 6794.27 -4043.45 USD Million [+]
Spain -1477012.00 Jun/14 -1756166.00 634935.00 -9834766.00 EUR Thousand [+]
Switzerland 3983.49 Jul/14 1412.00 3983.49 -1478.68 CHF million [+]
Turkey -6460.00 Jul/14 -7853.06 24.51 -10453.06 USD Million [+]
United Kingdom -3348.00 Jul/14 -2459.00 2946.00 -5269.00 GBP Million [+]
United States -40546.00 Jul/14 -40810.00 1946.00 -67823.00 USD Million [+]





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