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

South Korea recorded a trade surplus of 3361 USD Million in September of 2014. Balance of Trade in South Korea averaged 526.83 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
3361.00 3370.00 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 Friday, October 31, 2014.


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.

Year-on-year, exports, which accounted for around half of the economy, rose 6.8 percent to USD 47.7 billion. Outward shipments of computers and steel products increased 30.5 percent and 3.8 percent respectively and became the largest contributors for the country’s total exports. However, sales of mobile communication devices, including smartphones, slipped 3.9 percent.

Exports to the US rose 19.9 percent annually while those to China, the top destination market for South Korea products, grew 6.5 percent. In contrast, sales to Japan and the EU countries fell by 6.2 percent and 5.1 percent respectively.

Imports jumped 8.0 percent to USD 44.3 billion, largely due to a rise in purchases of both industrial and consumer goods. During the first twenty days of September, imports of raw materials gained 6.6 percent annually and purchases of consumer goods surged 20.6 percent.

rida@tradingeconomics.com
10/1/2014 10:24:26 AM


Recent Releases

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

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


Calendar GMT Country Event Reference Actual Previous Consensus Forecast
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 $ 3.36B $ 3.37B (R) $ 3B
2014-11-01 12:00 AM South Korea
Balance of Trade
Oct 2014 $ 3.36B $ 5.56B $ 3B


South Korea Trade Last Previous Highest Lowest Unit
Balance of Trade 3361.00 3370.00 6794.27 -4043.45 USD Million [+]
Exports 47691.00 46233.74 50480.48 14.75 USD Million [+]
Imports 44300.00 42864.82 45899.19 38.61 USD Million [+]
Current Account 7624.60 7274.00 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 442174.10 83622.00 USD Million [+]
Terms of Trade 118.10 111.60 123.60 13.10 Index Points [+]
Foreign Direct Investment 5272619.00 5061748.00 7065714.00 114.00 USD Thousand [+]
Capital Flows -8763.50 -7791.20 3027.80 -11596.00 USD Million [+]
Tourist Arrivals 1245777.00 1454078.00 1454078.00 213006.00 [+]
Gold Reserves 104.44 104.44 104.44 13.00 Tonnes [+]