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

South Korea recorded a trade surplus of 7706.30 USD Million in February of 2015. Balance of Trade in South Korea averaged 586.77 USD Million from 1966 until 2015, reaching an all time high of 7706.31 USD Million in February 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).

      Forecast    
South Korea Balance of Trade


Actual Previous Highest Lowest Dates Unit Frequency
7706.30 5362.32 7706.31 -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 - 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, March 28, 2015.


South Korea Records USD 5.53 Billion Trade Surplus


South Korea trade surplus widened to USD 5.53 billion in January of 2015 from USD 0.73 billion a year earlier and above market expectations, as imports fell at a faster pace than exports.

Year-on-year, exports declined by 0.4 percent to USD 45.37 billion, following a revised 3.6 percent gain in the previous month. Outward shipments of semiconductors, the country's single-largest exports items, rose 13.7 percent while sales of ships increased by 62.5 percent.

Sales to the US increased by 15.2 percent from a year earlier while those to China rose 5.3 percent. In contrast, exports to Japan declined by 19.2 percent while those to the ASEAN countries slipped by 8.3 percent.

Imports dropped by 11.0 percent to USD 39.84 billion, compared with a 0.9 percent fall  in the preceding month. Purchases of oil fell by almost 42 percent year-on-year to USD 5 billion with those of petroleum products declining by 51.9 percent. In contrast, imports of consumer products increased by 19.2 percent.

In December, the country posted a revised USD 5.75 billion trade surplus.

South Korea has been recording trade surpluses since February 2012.

For 2015, total exports is expected to grow by 3.7 percent to USD 594.0 billion, mainly due to an expansion of the country's free trade agrements, including with China. Total import is projected to expand by 3.2 percent to USD 542.0 billion.

Rida Husna l rida@tradingeconomics.com
2/2/2015 11:36:57 AM


Recent Releases

South Korea Trade Surplus Widens in December
South Korea recorded a USD 5.78 billion trade surplus in December of 2014, up from a revised USD 5.51 billion in the previous month and from USD 3.63 billion a year earlier, as exports unexpectedly rose while imports fell further. Published on 2015-01-01

South Korea Trade Surplus Widens in November
South Korea recorded a USD 5.61 billion trade surplus in November of 2014, compared with a USD 4.79 billion surplus a year earlier. Exports dropped unexpectedly 1.9 percent while imports declined 4 percent. Published on 2014-12-01


Calendar GMT Event Actual Previous Consensus Forecast (i)
2015-01-01 12:00 AM
Balance of Trade  Dec
$ 5.78B $ 5.51B (R) $ 4.7B
2015-02-01 12:00 AM
Balance of Trade  Jan
$ 5.53B $ 5.75B (R) $ 4.72B
2015-03-01 12:00 AM
Balance of Trade  Feb
$7.7B $ 5.53B $ 4.5B
2015-04-01 01:00 AM
Balance of Trade  Mar
$7.7B $ 6.1B
2015-05-01 01:00 AM
Balance of Trade  Apr
$ 3.8B
2015-06-01 01:00 AM
Balance of Trade  May
$ 3.5B


South Korea Trade Last Previous Highest Lowest Unit
Balance of Trade 7706.30 5362.32 7706.31 -4043.45 USD Million [+]
Exports 41499.72 45226.83 51600.00 14.75 USD Million [+]
Imports 33793.41 39827.44 45899.19 38.61 USD Million [+]
Current Account 6940.00 7020.00 11320.00 -3756.80 USD Million [+]
Current Account to GDP 5.80 4.30 11.90 -8.30 percent [+]
External Debt 425449.20 434125.10 442174.10 83622.00 USD Million [+]
Terms of Trade 116.60 126.30 133.90 13.10 Index Points [+]
Foreign Direct Investment 4484000.00 5272619.00 7065714.00 114.00 USD Thousand [+]
Capital Flows -8253.40 -9803.10 3027.80 -11596.00 USD Million [+]
Tourist Arrivals 1050706.00 917054.00 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 -980.00 Jan/15 -503.00 2219.00 -3897.00 AUD Million [+]
Brazil -2841.76 Feb/15 -3173.95 5659.37 -4058.14 USD Million [+]
Canada -2451.00 Jan/15 -1218.00 8524.80 -2902.90 CAD Million [+]
China 606.19 Feb/15 600.30 606.19 -319.71 USD Hundred Million [+]
Euro Area 7943.60 Jan/15 24009.80 24009.80 -16638.00 EUR Million [+]
France -3726.00 Jan/15 -3296.00 2674.00 -7086.00 EUR Million [+]
Germany 15900.00 Jan/15 18900.00 23400.00 -535.91 EUR Million [+]
India -6847.00 Feb/15 -8322.00 258.90 -20210.90 USD Million [+]
Indonesia 738.30 Feb/15 743.50 4641.92 -2329.13 USD Million [+]
Italy 219.00 Jan/15 5741.00 6923.00 -6389.30 EUR Million [+]
Japan -425.00 Feb/15 -1177.50 1608.67 -2795.04 JPY Billion [+]
Mexico 558.30 Feb/15 -3248.00 1710.25 -3292.30 USD Million [+]
Netherlands 5138.00 Jan/15 4891.20 5138.00 -907.60 EUR Million [+]
Russia 15047.00 Jan/15 12927.00 20356.00 -185.00 USD Million [+]
South Korea 7706.30 Feb/15 5362.32 7706.31 -4043.45 USD Million [+]
Spain -2596200.00 Jan/15 -1821800.00 634935.00 -9834766.00 EUR Thousand [+]
Switzerland 2472.61 Feb/15 3409.00 3894.91 -1478.68 CHF million [+]
Turkey -4305.31 Jan/15 -8505.55 24.51 -10453.06 USD Million [+]
United Kingdom -616.00 Jan/15 -2142.00 2946.00 -5397.00 GBP Million [+]
United States -41752.00 Jan/15 -45601.00 1946.00 -67823.00 USD Million [+]