South Korea Balance of Trade

South Korea recorded a trade surplus of 4164.75 USD Million in March of 2014. Balance of Trade in South Korea is reported by the Ministry of Trade, Industry & Energy (MOTIE). Balance of Trade in South Korea averaged 498.14 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 -4043.46 USD Million in January of 2008. 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. 2014-04-24

Actual Previous Highest Lowest Forecast Dates Unit Frequency
4164.75 933.60 6794.27 -4043.46 3405.12 | 2014/04 1966 - 2014 USD Million Monthly

TO

South Korea Balance of Trade
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2014-01-01 12:00 AM South Korea
Balance of Trade
Dec 2013 USD 3.7B USD 4.79B (R) USD 3.6B
2014-02-01 12:00 AM South Korea
Balance of Trade
Jan 2014 USD 0.74B USD 3.7B USD 1.63B USD 3.4B
2014-03-01 12:00 AM South Korea
Balance of Trade
Feb 2014 USD 0.93B USD 0.75B (R) USD 0.54B USD 3.4B
2014-04-01 01:00 AM South Korea
Balance of Trade
Mar 2014 USD 4.19B USD 0.93B USD 3.79B USD 2B
2014-05-01 01:00 AM South Korea
Balance of Trade
Apr 2014 USD 4.19B USD 3.4B
2014-06-01 01:00 AM South Korea
Balance of Trade
May 2014 USD 2.9B
[+]

Trade Last Previous Highest Lowest Forecast Unit
Current Account 4524.90 2014-02-15 3290.00 9507.60 -3587.60 5803.97 2014-03-31 USD Million [+]
Exports 49716.83 2014-03-15 42977.29 50480.48 14.75 48410.99 2014-04-30 USD Million [+]
Imports 45552.08 2014-03-15 42043.69 45614.49 38.61 45055.89 2014-04-30 USD Million [+]
Current Account to GDP 3.80 2012-12-31 2.40 11.90 -8.30 4.46 2013-12-31 Percent [+]
Balance of Trade 4164.75 2014-03-15 933.60 6794.27 -4043.46 3405.12 2014-04-30 USD Million [+]
Capital Flows -6917.00 2014-02-15 -4480.00 3027.80 -11596.00 -6655.91 2014-03-31 USD Million [+]
External Debt 416595.00 2013-12-31 411015.00 419375.00 83622.00 404007.37 2014-03-31 USD Million [+]
Foreign Direct Investment 3802252.00 2013-11-15 2747393.00 7065714.00 114.00 2991251.83 2014-03-31 USD Thousand [+]
Terms of Trade 119.90 2014-03-15 106.00 122.50 13.10 111.02 2014-03-31 Index Points [+]
Tourist Arrivals 1132155.00 2014-03-15 886026.00 1358909.00 213006.00 1010129.20 2014-03-31 [+]
[+]


South Korea Trade Surplus Widens 25.7% YoY in March

South Korean trade surplus increased to USD 4.19 billion in March of 2014, up from a USD 933 million surplus in the previous month and USD 3.33 billion surplus a year earlier. Exports jumped to the second-highest value on record due to higher demand from the US and the EU.

Exports rose 5.2 percent on the year to USD 49.76 billion, following a revised 1.5 percent gain in February. Sales to the US and the EU surged 17 percent and 15.2 percent yoy, respectively, up from 6.7 percent and 10.6 percent in February. Shipments to China increased 4.5 percent in annual terms. 

By product, sales of mobile communication devices rose 32.1 percent yoy and shipments of automobiles and semiconductors spiked 15.9 percent and 14 percent, respectively.

In contrast, shipments of petroleum and petrochemical products decreased 3.5 percent and 5 percent yoy, respectively.

Imports increased 3.5 percent from a year earlier to USD 45.57 billion, compared with a revised 3.9 percent gain in February.

Joana Taborda | joana.taborda@tradingeconomics.com
4/1/2014 11:40:10 AM

RECENT RELEASES

South Korea Trade Surplus Narrows over a Year Earlier
In February of 2014, South Korean trade surplus decreased for the second straight month to USD 926 million, down from USD 1.9 billion a year earlier. Sales in January and February usually show volatility due to the Lunar New Year holidays. Published on 2014-03-03

South Korea Trade Surplus Narrows in January
In January of 2014, South Korean trade surplus decreased to USD 735 million, the lowest surplus in twelve months. Exports shrank for the first time in four months by an annual 0.2 percent due to lower working days. Sales in January and February usually show volatility due to the Lunar New Year holidays. Published on 2014-02-03


Balance of Trade | Notes
The balance of trade is the difference between the monetary value of exports and imports in an economy over a certain period of time. A positive balance of trade is known as a trade surplus and occurs when value of exports is higher than that of imports; a negative balance of trade is known as a trade deficit or a trade gap.


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