South Korea Balance of Trade  1966-2017 | Data | Chart | Calendar

South Korea recorded a USD 3.20 billion trade surplus in January of 2017, compared to a USD 4.93 billion surplus a year earlier. It was the smallest trade surplus since July 2014 as exports rose less than imports, preliminary data showed. In January, sales grew 11.2 percent from a year earlier to USD 40.33 billion, following a 6.4 percent rise in December 2016. It was the third straight month of increase and the fastest since February 2012. Imports went up 18.6 percent to USD 37.13 billion, compared to a 8.0 percent gain in the prior month. In December 2016, trade surplus was downwardly revised to USD 6.79 billion. For 2017, trade conditions will likely face downside risks from possible US protectionist measures under the administration of President Donald Trump and a slowdown in China. The trade balance has been in consistent surpluses since February 2012. Balance of Trade in South Korea averaged 830.62 USD Million from 1966 until 2017, 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)
2016-12-01 12:00 AM Nov $8.0B $6.97B $10.9B
2017-01-01 12:00 AM Dec $7.0B $8.2B $7.8B
2017-02-01 12:00 AM Jan $3.2B $6.8B $6.8B
2017-03-01 12:00 AM Feb $3.2B
2017-04-01 12:00 AM Mar
2017-05-01 12:00 AM Apr




South Korea Trade Surplus Narrows To 30-Month Low


South Korea recorded a USD 3.20 billion trade surplus in January of 2017, compared to a USD 4.93 billion surplus a year earlier. It was the smallest trade surplus since July 2014 as exports rose less than imports, preliminary data showed.

In January, sales grew 11.2 percent from a year earlier to USD 40.33 billion, following a 6.4 percent rise in December 2016. It was the third straight month of increase and the fastest since February 2012. Outbound shipments surged for petroleum products (67.4 percent) and semi-conductors (41.6 percent).

Exports went up to China (13.5 percent), followed by the EU countries (13.4 percent). In contrast, sales to the US fell 1.8 percent.

Imports jumped 18.6 percent to USD 37.13 billion, compared to a 8.0 percent gain in the prior month.

In December 2016, trade surplus was downwardly revised to USD 6.79 billion.

For 2017, exports are expected to rise 2.9 percent, supported by improving global demand, while imports are projected to grow by 7.2 percent. For the year, trade conditions will likely face downside risks from possible US protectionist measures under the administration of president Donald Trump and a slowdown in China.

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

Rida Husna | rida@tradingeconomics.com
2/1/2017 4:32:06 AM



South Korea Trade Last Previous Highest Lowest Unit
Balance of Trade 3200.00 6790.00 11371.62 -4043.45 USD Million [+]
Exports 40330.00 45070.00 51600.00 14.75 USD Million [+]
Imports 37130.00 38070.00 45899.19 38.61 USD Million [+]
Current Account 7869.20 8892.20 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 103.60 105.30 237.00 86.10 Index Points [+]
Foreign Direct Investment 6249699.00 449500.00 7638784.00 114.00 USD Thousand [+]
Capital Flows 9281.30 8863.90 12277.90 -3385.80 USD Million [+]
Tourism Revenues 1336.80 1389.50 1765.40 326.50 USD Million [+]
Tourist Arrivals 1343398.00 1309055.00 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 February of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
3200.00 6790.00 11371.62 -4043.45 1966 - 2017 USD Million Monthly



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