South Korea Balance of Trade 1966-2014 | Data | Chart | Calendar

South Korea recorded a trade surplus of 5606 USD Million in November of 2014. Balance of Trade in South Korea averaged 555.88 USD Million from 1966 until 2014, reaching an all time high of 7380 USD Million in October of 2014 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).

      Forecast    
South Korea Balance of Trade


Actual Previous Highest Lowest Dates Unit Frequency
5606.00 7380.00 7380.00 -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. Content for - South Korea Balance of Trade - was last refreshed on Thursday, December 18, 2014.


South Korea Trade Surplus Widens in November


South Korea recorded a USD 5.61 billion trade surplus in November of 2014, compared with a USD 4.79 billion surplus a year earlier. Exports dropped unexpectedly 1.9 percent while imports declined 4 percent.

Year-on-year, exports decreased 1.9 percent to USD 46.9 billion, following a revised 2.3 percent increase in October as this year's November had fewer working days compared to a year earlier. By products, exports of semiconductors increased by 16.7 percent and sales of steel products surged 13.3 percent. In contrast, exports of automobiles declined 5.5 percent.

Shipments to the Unites States jumped 20.8 percent in November. Sales to other major export destinations were mostly down with those to Japan falling the most by 24.4 percent, followed by the EU countries (-6.7 percent) and China (- 3.2 percent).

Imports dropped 4 percent to USD 41.38 billion, compared with a 3 percent decrease in the previous month, largely due to a drop in prices of energy. In the first 20 days of November, imports of capital goods increased 8.2 percent, while those of consumer products rose 9.4 percent.

In October of 2014, South Korea posted a record high USD 7.38 billion trade surplus. The country has been posting constant trade surpluses since February of 2012.

Rida l rida@tradingeconomics.com
12/1/2014 12:19:58 PM


Recent Releases

South Korea Trade Surplus at Record High in October
In October of 2014, South Korean trade surplus increased sharply to USD 7.50 billion from USD 4.87 billion a year earlier, boosted by increased demand from the US and China. Enjoying the black balance since February of 2012, the country saw the latest trade surplus is the largest in history. Published on 2014-11-01

South Korea Trade Surplus Narrows in September
South Korean trade surplus declined to USD 3.36 billion in September of 2014 from USD 3.59 billion a year earlier, marking the 32nd straight month of surplus, as imports grew faster than exports. In August, the country posted a revised USD 3.37 billion trade surplus. Published on 2014-10-01


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-10-01 01:00 AM
Balance of Trade  Sep
$ 3.36B $ 3.37B (R) $ 3B
2014-11-01 12:00 AM
Balance of Trade  Oct
$ 7.50B $ 3.43B (R) $ 5.56B $ 3B
2014-12-01 12:00 AM
Balance of Trade  Nov
$ 5.61B $ 7.4B $ 5.2B
2015-01-01 12:00 AM
Balance of Trade  Dec
4726.82
2015-02-01 12:00 AM
Balance of Trade  Jan
4285.72
2015-03-01 12:00 AM
Balance of Trade  Feb
3847.3


South Korea Trade Last Previous Highest Lowest Unit
Balance of Trade 5606.00 7380.00 7380.00 -4043.45 USD Million [+]
Exports 46990.00 51600.00 51600.00 14.75 USD Million [+]
Imports 41384.00 44300.00 45899.19 38.61 USD Million [+]
Current Account 9010.00 7410.00 11107.90 -3756.80 USD Million [+]
Current Account to GDP 5.80 4.30 11.90 -8.30 percent [+]
External Debt 429053.30 442174.10 442174.10 83622.00 USD Million [+]
Terms of Trade 128.20 117.50 128.20 13.10 Index Points [+]
Foreign Direct Investment 4484000.00 5272619.00 7065714.00 114.00 USD Thousand [+]
Capital Flows -6802.60 -8763.50 3027.80 -11596.00 USD Million [+]
Tourist Arrivals 1317482.00 1245777.00 1454078.00 213006.00 [+]
Gold Reserves 104.44 104.44 104.44 13.00 Tonnes [+]
Gold Reserves 104.44 104.44 104.44 13.00 Tonnes [+]


Balance of Trade Reference Previous Highest Lowest Unit
Australia -1323.00 Oct/14 -2235.00 2226.00 -3892.00 AUD Million [+]
Brazil -2350.52 Nov/14 -1177.00 5659.37 -4058.14 USD Million [+]
Canada 100.00 Oct/14 310.00 8524.80 -2902.90 CAD Million [+]
China 544.74 Nov/14 454.05 544.74 -319.71 USD Hundred Million [+]
Euro Area 24000.00 Oct/14 18100.00 24000.00 -16638.00 EUR Million [+]
France -4608.00 Oct/14 -4715.00 2674.00 -7086.00 EUR Million [+]
Germany 21900.00 Oct/14 22100.00 23400.00 -535.91 EUR Million [+]
India -16860.00 Nov/14 -13350.00 258.90 -20210.90 USD Million [+]
Indonesia 20.00 Oct/14 -270.30 4641.92 -2329.13 USD Million [+]
Italy 5397.00 Oct/14 2020.00 6923.00 -6389.30 EUR Million [+]
Japan -891.85 Nov/14 -709.99 1608.67 -2795.04 JPY Billion [+]
Mexico 143.00 Oct/14 590.00 1710.25 -3292.30 USD Million [+]
Netherlands 5195.00 Oct/14 4707.00 5195.00 -907.60 EUR Million [+]
Russia 13595.00 Oct/14 12953.00 20356.00 -185.00 USD Million [+]
South Korea 5606.00 Nov/14 7380.00 7380.00 -4043.45 USD Million [+]
Spain -2373700.00 Sep/14 -2771962.00 634935.00 -9834766.00 EUR Thousand [+]
Switzerland 3868.00 Nov/14 3226.00 3901.00 -1478.68 CHF million [+]
Turkey -6251.72 Oct/14 -6925.00 24.51 -10453.06 USD Million [+]
United Kingdom -2024.00 Oct/14 -2822.00 2946.00 -5397.00 GBP Million [+]
United States -43400.00 Oct/14 -43600.00 1946.00 -67823.00 USD Million [+]