South Korea Balance of Trade

South Korea recorded a trade surplus of 2520 USD Million in July of 2014. Balance of Trade in South Korea averaged 517.30 USD Million from 1966 until 2014, reaching an all time high of 6794.27 USD Million in June of 2010 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).

   
 
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South Korea Balance of Trade


Actual Previous Highest Lowest Dates Unit Frequency
2520.00 5453.83 6794.27 -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.


South Korea Trade Surplus Narrows in July


South Korean trade surplus fell to USD 2.52 billion in July of 2014 from a revised USD 5.45 billion surplus in the previous month due to a surge in imports, but remained almost unchanged from USD 2.45 billion a year earlier.

Exports increased 5.7 percent in July of 2014 from a year earlier, recording USD 48.4 billion. Sales increased to a recorded level for wireless communications equipment (24.6 percent), followed by higher deliveries of steel (22.4 percent) and automobiles (20.8 percent). 

In July, higher exports were recorded for the US (19.4 percent), European Union (11.5 percent), Japan (6.0 percent) compared with a year earlier. In contrast, exports declined for China (-7.0 percent), the top destination market.

Imports amounted to USD 45.9 billion in July, a 5.8 percent increase from July of 2013.

Ministry of Trade, Industry and Energy | Isabel Felino | isabel.felino@tradingeconomics.com
8/1/2014 8:52:13 AM


Recent Releases

South Korea Trade Surplus Narrows in June
South Korea trade surplus declined to USD 5.29 billion in June of 2014 from USD 5.97 billion a year earlier as imports grew faster than exports. Published on 2014-07-01

South Korea Trade Surplus Narrows on Lower Exports
South Korean trade surplus decreased to USD 5.35 billion in May of 2014 from USD 5.92 billion in the same month a year earlier. Exports recorded the first annual decline since the beginning of the year and the sharpest since September of 2013. Published on 2014-06-02


Calendar GMT Country Event Reference Actual Previous Consensus Forecast
2014-05-01 01:00 AM South Korea
Balance of Trade
Apr 2014 $ 4.46B $ 4.16B (R) $ 4.13B $ 3.4B
2014-06-01 01:00 AM South Korea
Balance of Trade
May 2014 $ 5.3B $ 4.46B $ 3.5B
2014-07-01 01:00 AM South Korea
Balance of Trade
Jun 2014 $ 5.3B $ 5.3B $ 6.4B $ 3.9B
2014-08-01 01:00 AM South Korea
Balance of Trade
Jul 2014 $2.52B $ 5.5B (R) $ 2.74B (R) $ 3.5B
2014-09-01 01:00 AM South Korea
Balance of Trade
Aug 2014 $ 3.8B


Trade Last Previous Highest Lowest Unit
Balance of Trade 2520.00 5453.83 6794.27 -4043.45 USD Million [+]
Exports 48420.00 47851.63 50480.48 14.75 USD Million [+]
Imports 45900.00 42397.79 45900.00 38.61 USD Million [+]
Current Account 7919.70 9080.80 11107.90 -3756.80 USD Million [+]
Current Account to GDP 5.80 4.30 11.90 -8.30 Percent [+]
External Debt 425353.20 416595.00 425353.20 83622.00 USD Million [+]
Terms of Trade 112.70 115.60 123.60 13.10 Index Points [+]
Foreign Direct Investment 5272619.00 5061748.00 7065714.00 114.00 USD Thousand [+]
Capital Flows -7636.70 -6236.20 3027.80 -11596.00 USD Million [+]
Tourist Arrivals 1273627.00 1239606.00 1358909.00 213006.00 [+]
Gold Reserves 104.44 104.44 104.44 13.00 Tonnes [+]





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