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

South Korea's trade surplus fell to USD 6.55 billion in March of 2017 from USD 9.68 billion a year earlier, as exports rose less than imports, preliminary data showed. Year-on-year, sales grew by 13.7 percent to USD 48.88 billion, following a 20.2 percent rise in February and slightly below market expectations of a 13.0 percent gain. It was the fifth straight month of growth. Imports went up 26.9 percent to USD 42.32 billion, faster than a 23.3 percent rise in the prior month and above consensus of a 23.7 percent growth. In February 2017, trade surplus was downwardly revised to USD 7.06 billion. The trade balance has been in consistent surpluses since February 2012. Balance of Trade in South Korea averaged 849.41 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)
2017-02-01 12:00 AM Jan $3.2B $6.8B $6.8B
2017-03-01 12:00 AM Feb $7.22B $2.81B $5.4B
2017-04-01 12:00 AM Mar $6.6B $7.06B $7.1B
2017-05-01 12:00 AM Apr $6.6B
2017-06-01 12:00 AM May
2017-07-01 12:00 AM Jun




South Korea Trade Surplus Narrows In March


South Korea's trade surplus fell to USD 6.55 billion in March of 2017 from USD 9.68 billion surplus a year earlier, as exports rose less than imports, preliminary data showed.

Year-on-year, sales grew by 13.7 percent to USD 48.88 billion, compared to a 20.2 percent rise in February while market expected a 13.0 percent gain. It was the fifth straight month of increase, mainly due to higher sales of petroleum products (+63.3 percent), flat screens (19.5 percent), machinery (17.6 percent), cosmetics (14.2 percent) and automobiles (4.1 percent). In contrast, outbound shipments dropped for wireless devices (-26.4 percent), reflecting the fallout from the recall of the Galaxy Note 7 phablet.

Exports to China rose 12.1 percent, marking the fifth consecutive month of growth. In contrast, outbound shipments to the US fell 5.3 percent, followed by those to the EU countries (-8.7 percent). 

Imports jumped 26.9 percent to USD 42.32 billion, faster than a 23.3 percent rise in the prior month and above consensus of a 23.7 percent growth. It was the strongest increase since September 2011.

In February 2017, trade surplus was downwardly revised to USD 7.06 billion.

For 2017, exports are expected to rise 2.9 percent, supported by improving global demand, while imports are projected to grow at a faster 7.2 percent. 

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

Rida Husna | rida@tradingeconomics.com
4/1/2017 3:02:36 AM



South Korea Trade Last Previous Highest Lowest Unit
Balance of Trade 6550.00 7060.00 11371.62 -4043.45 USD Million [+]
Exports 48894.00 43189.00 51600.00 14.75 USD Million [+]
Imports 42314.00 35966.00 45899.19 38.61 USD Million [+]
Current Account 8400.00 5277.80 12086.30 -3756.80 USD Million [+]
Current Account to GDP 7.70 6.00 10.70 -10.50 percent [+]
External Debt 380948.90 400155.80 452750.80 80766.40 USD Million [+]
Terms of Trade 103.40 102.80 237.00 86.10 Index Points [+]
Foreign Direct Investment 3851000.00 6249699.00 7638784.00 0.00 USD Thousand [+]
Capital Flows 9203.60 4387.90 12277.90 -3385.80 USD Million [+]
Tourism Revenues 1283300.00 1208500.00 1765400.00 326500.00 USD Million [+]
Tourist Arrivals 1252080.00 1220695.00 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 [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category



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 April of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
6550.00 7060.00 11371.62 -4043.45 1966 - 2017 USD Million Monthly



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