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

South Korea recorded a USD7.80 billion trade surplus in July of 2016, compared to a USD7.05 billion surplus a year earlier, as imports dropped more than exports, preliminary data showed. Year-on-year, exports fell by 10.2 percent to USD41.0 billion, following a 2.7 percent fall in June and market estimates of a 4.6 percent decline. Imports dropped by 14.0 percent to USD33.0 billion, after declining 8.0 percent in the preceding month while market expected a 9.5 percent decline. In July 2016, trade surplus stood at USD11.5 billion. The trade balance has been in consistent surpluses since February 2012. Balance of Trade in South Korea averaged 779.83 USD Million from 1966 until 2016, reaching an all time high of 11497.44 USD Million in June of 2016 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
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Actual Previous Highest Lowest Dates Unit Frequency
7793.00 11497.44 11497.44 -4043.45 1966 - 2016 USD Million Monthly
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 August of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-06-01 12:00 AM May $7.1B $8.8B $9.45B 10.5B
2016-07-01 12:00 AM Jun $11.6B $7.0B $9.2B
2016-08-01 12:00 AM Jul $7.80B $11.5B $7.2B
2016-09-01 12:00 AM Aug $7.80B $5.7B
2016-10-01 12:00 AM Sep $10.1B
2016-11-01 12:00 AM Oct $7.8B

South Korea Trade Surplus Widens in July


South Korea recorded a USD7.80 billion trade surplus in July of 2016, compared to a USD7.05 billion surplus a year earlier, as imports dropped more than exports, preliminary data showed.

Year-on-year, exports fell by 10.2 percent to USD41.0 billion, following a 2.7 percent fall in June and market estimates of a 4.6 percent decline. It was the fastest decrease since April.

Sales to China, the largest market for South Korean products, fell by 9.3 percent and marking the 13th straight month of decrease. Outbound shipments also declined by 14.3 percent to the US, the biggest fall since March 2013. Those to the EU countries dropped by 4.3 percent, marking the 4th straight month of fall.

Imports dropped  by 14.0 percent to USD33.0 billion, after declining 8.0 percent in the preceding month. It was the 22nd straight month of drop while market expected a 9.5 percent decline
In July  2016, trade surplus stood at USD11.5 billion.

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

Rida Husna | rida@tradingeconomics.com
8/1/2016 4:12:30 AM

South Korea Trade Last Previous Highest Lowest Unit
Balance of Trade 7793.00 11497.44 11497.44 -4043.45 USD Million [+]
Exports 41000.00 45300.00 51600.00 14.75 USD Million [+]
Imports 33300.00 33700.00 45899.19 38.61 USD Million [+]
Current Account 12168.40 10361.30 12168.40 -3756.80 USD Million [+]
Current Account to GDP 7.70 6.00 10.70 -10.50 percent [+]
External Debt 385794.10 396559.20 442174.10 83622.00 USD Million [+]
Terms of Trade 142.80 138.80 150.50 17.80 Index Points [+]
Foreign Direct Investment 6278639.00 4241000.00 7639000.00 114.00 USD Thousand [+]
Capital Flows 9596.30 8929.10 12277.90 -3385.80 USD Million [+]
Tourism Revenues 1500.10 1711.40 1765.00 327.00 USD Million [+]
Tourist Arrivals 1554413.00 1492680.00 1554413.00 213006.00 [+]
Gold Reserves 104.40 104.40 104.44 13.00 Tonnes [+]
Terrorism Index 0.00 0.00 2.62 0.00 [+]
Weapons Sales 105.00 163.00 331.00 7.00 USD Million [+]




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