South Korea Balance of Trade  1966-2016 | Data | Chart | Calendar

South Korea's trade surplus fell to USD 7.99 billion in November 2016 from USD 10.24 billion the same month a year earlier, preliminary data showed. Exports increased by 2.7 percent to USD 45.48 billion, while market expected a 1.2 percent gain, as shipments to China grew for the first time in 17 months. Imports advanced at a faster 10.1 percent to USD 37.49 billion, higher than market consensus of a 2.9 percent rise. Balance of Trade in South Korea averaged 816.65 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)
2016-10-01 12:00 AM Sep $7.1B $5.1B $10.1B
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 7822.27
2017-02-01 12:00 AM Jan 7320.78
2017-03-01 12:00 AM Feb 7285.58




South Korea Trade Surplus Narrows in November


South Korea's trade surplus fell to USD 7.99 billion in November 2016 from USD 10.24 billion the same month a year earlier, preliminary data showed. Exports increased by 2.7 percent, as shipments to China grew for the first time in 17 months, while imports advanced at a faster 10.1 percent.

Year-on-year, exports increased by 2.7 percent to USD 45.48 billion from USD 44.29 billion, following a revised 3.5 percent fall in October while markets expected a 1.2 percent gain. Sales rose the most for: machinery (+19.3 percent), followed by semiconductors (+11.6 percent, largely due to growing demand for mobile chips) and steel products (+10.8 percent). Outbound shipments of automobile also went up 1.5 percent, marking the first growth in 17 months and following partial strikes at major carmakers, including industry leader Hyundai Motor). In contrast, outbound shipments fell for shipbuilding (-36.8 percent) and wireless device, including mobile phones (-17.9 percent in the aftermath of the output halt of Samsung Electronics Galaxy Note 7).

Shipments to China, the largest market for South Korean products, grew for the first time in 17 months. Exports to the U.S., the country's second-largest trade partner,  gained 3.9 percent and marking the first gain in six months.

Imports advanced at a faster 10.1 percent to USD 37.49 billion from USD 34.05 billion, after dropping by a revised 4.8 percent the preceding month and higher than market consensus of 2.9 percent rise.

In October 2016, the trade surplus was downwardly revised to USD 6.97 billion.

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

Joana Ferreira | joana.ferreira@tradingeconomics.com
12/1/2016 8:43:59 AM



South Korea Trade Last Previous Highest Lowest Unit
Balance of Trade 7992.05 6967.08 11371.62 -4043.45 USD Million [+]
Exports 45480.75 41970.16 51600.00 14.75 USD Million [+]
Imports 37488.70 35003.07 45899.19 38.61 USD Million [+]
Current Account 8719.30 8067.10 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 103.40 104.60 237.00 86.10 Index Points [+]
Foreign Direct Investment 449500.00 6278639.00 7638784.00 114.00 USD Thousand [+]
Capital Flows 10643.80 7715.80 12277.90 -3385.80 USD Million [+]
Tourism Revenues 1317.10 1520.20 1765.40 326.50 USD Million [+]
Tourist Arrivals 1587797.00 1523928.00 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 December of 2016.

Actual Previous Highest Lowest Dates Unit Frequency
7992.05 6967.08 11371.62 -4043.45 1966 - 2016 USD Million Monthly



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