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

South Korea recorded a trade surplus of 5780 USD Million in December of 2014. Balance of Trade in South Korea averaged 555.88 USD Million from 1966 until 2014, reaching an all time high of 7380 USD Million in October of 2014 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
5780.00 5510.00 7380.00 -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 Saturday, January 31, 2015.


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.

Year-on-year, exports increased 3.7 percent to USD 49.74 billion, following a revised 2.1 percent drop in November. The pace of exports in December was the quickest in the last three months. Sales to the US  grew 21.5 percent year-on-year after registering a 20.8 percent increase in November.

Imports dropped 0.9 percent to USD 43.96 billion, compared with a 4.0 percent decrease in the previous month.

For the whole of 2014, exports increased 2.4 percent to USD 573.10 billion and imports rose 2.0 percent to USD 525.70 billion, bringing a USD 47.41 billion trade surplus. South Korea has been posting constant trade surpluses since February of 2012. 

For 2015, the trade ministry said it expects exports to grow by 3.7 percent to USD 594.0 billion, largely due to an expansion of the country's free trade agreements, including with China. Meanwhile, imports  in the year is projected to rise by 3.2 percent to USD 542 billion.

Rida Husna l rida.husna@tradingeconomics.com
1/1/2015 6:06:12 AM


Recent Releases

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

South Korea Trade Surplus at Record High in October
In October of 2014, South Korean trade surplus increased sharply to USD 7.50 billion from USD 4.87 billion a year earlier, boosted by increased demand from the US and China. Enjoying the black balance since February of 2012, the country saw the latest trade surplus is the largest in history. Published on 2014-11-01


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-11-01 12:00 AM
Balance of Trade  Oct
$ 7.50B $ 3.43B (R) $ 5.56B $ 3B
2014-12-01 12:00 AM
Balance of Trade  Nov
$ 5.61B $ 7.4B $ 5.2B
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
$ 5.78B $ 4.72B
2015-03-02 12:00 AM
Balance of Trade  Feb
4154.42
2015-04-01 01:00 AM
Balance of Trade  Mar
3839.3


South Korea Trade Last Previous Highest Lowest Unit
Balance of Trade 5780.00 5510.00 7380.00 -4043.45 USD Million [+]
Exports 49703.65 46892.16 51600.00 14.75 USD Million [+]
Imports 43954.67 41378.41 45899.19 38.61 USD Million [+]
Current Account 11406.10 8840.00 11406.10 -3756.80 USD Million [+]
Current Account to GDP 5.80 4.30 11.90 -8.30 percent [+]
External Debt 429053.30 429053.30 442174.10 83622.00 USD Million [+]
Terms of Trade 134.50 124.00 134.50 13.10 Index Points [+]
Foreign Direct Investment 4484000.00 5272619.00 7065714.00 114.00 USD Thousand [+]
Capital Flows -9916.40 -6802.60 3027.80 -11596.00 USD Million [+]
Tourist Arrivals 1086569.00 1117398.00 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 -925.00 Nov/14 -877.00 2219.00 -3897.00 AUD Million [+]
Brazil 293.00 Dec/14 -2350.52 5659.37 -4058.14 USD Million [+]
Canada -644.30 Nov/14 -327.00 8524.80 -2902.90 CAD Million [+]
China 496.13 Dec/14 544.76 544.76 -319.71 USD Hundred Million [+]
Euro Area 19954.00 Nov/14 23646.00 23646.00 -16638.00 EUR Million [+]
France -3236.00 Nov/14 -4270.00 2674.00 -7086.00 EUR Million [+]
Germany 17883.46 Nov/14 22100.00 23400.00 -535.91 EUR Million [+]
India -9430.00 Dec/14 -16861.10 258.90 -20210.90 USD Million [+]
Indonesia -425.70 Nov/14 20.00 4641.92 -2329.13 USD Million [+]
Italy 3541.23 Nov/14 5396.00 6923.00 -6389.30 EUR Million [+]
Japan -660.70 Dec/14 -893.52 1608.67 -2795.04 JPY Billion [+]
Mexico 254.00 Dec/14 -1076.36 1710.25 -3292.30 USD Million [+]
Netherlands 5110.00 Nov/14 4849.00 5110.00 -907.60 EUR Million [+]
Russia 13359.00 Nov/14 14222.00 20356.00 -185.00 USD Million [+]
South Korea 5780.00 Dec/14 5510.00 7380.00 -4043.45 USD Million [+]
Spain -1555245.00 Nov/14 -2240060.00 634935.00 -9834766.00 EUR Thousand [+]
Switzerland 3868.33 Nov/14 3226.00 3901.00 -1478.68 CHF million [+]
Turkey -8505.55 Dec/14 -8306.48 24.51 -10453.06 USD Million [+]
United Kingdom -1406.00 Nov/14 -2246.00 2946.00 -5397.00 GBP Million [+]
United States -39001.00 Nov/14 -42249.00 1946.00 -67823.00 USD Million [+]