South Korea Balance of Trade  1966-2018 | Data | Chart | Calendar

South Korea’s trade surplus narrowed to USD 6.3 billion in June of 2018 from USD 10.7 billion in the same month of the preceding year. It was the smallest trade surplus since February, as exports fell while imports rose, preliminary data showed. In June, outbound shipments edged down by 0.1 percent year-on-year to USD 51.22 billion, due to high base effects and shorter working days, missing market consensus of a 0.4 percent growth. Inbound shipments increased by 10.7 percent to USD 44.91 billion, below markets expectations of a 11.4 percent growth. Considering the first six months of the year, the trade surplus was USD 32.8 billion, much smaller than a USD 44.9 billion surplus in the same period the preceding year. Balance of Trade in South Korea averaged 1005.15 USD Million from 1966 until 2018, reaching an all time high of 13419.36 USD Million in September of 2017 and a record low of -4043.46 USD Million in January of 2008.

South Korea Balance of Trade
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South Korea June Trade Surplus Smallest in 4 Months


South Korea’s trade surplus narrowed to USD 6.3 billion in June of 2018 from USD 10.7 billion in the same month of the preceding year, as exports fell while imports rose, preliminary data showed.

In June, outbound shipments edged down by 0.1 percent year-on-year to USD 51.23 billion, due to high base effect and shorter working days, missing market consensus of a 0.4 percent growth and after a 13.5 percent gain in the prior month. Sales declined for vehicles (-9.9 percent), flat panel displays (-10.5 percent), and consumer electronics (-21.6 percent). By contrast, outbound shipment went up for semiconductors (39 percent), petrochemical products (17.6 percent).
 
Among major trading partners, exports to the ASEAN countries contracted 1.3 percent, and Middle East (-10.4 percent), but soared to China (29.8 percent), followed by those to the US (7.6 percent).
 
Inbound shipments increased by 10.7 percent to USD 44.91 billion, following a 12.6 percent rise in May, below markets consensus of a 11.4 percent growth.

Considering the first six months of the year, the trade surplus was USD 32.8 billion, much smaller than a USD 44.9 billion surplus in the same period the preceding year.

For 2018, exports are expected to grew by 4 percent amid escalating trade tension between China and the United States.
 
 


Ministry of Trade, Industry & Energy (MOTIE) l Chusnul Ch Manan | chusnul@tradingeconomics.com
7/1/2018 2:27:46 AM



Calendar GMT Actual Previous Consensus TEForecast
2018-05-01 12:00 AM Balance of Trade $6.6B $6.8B $ 3.7B
2018-06-01 12:00 AM Balance of Trade $6.7B $6.8B $ 3.5B
2018-07-01 12:00 AM Balance of Trade $6.3B $6.7B $ 8.8B
2018-08-01 12:00 AM Balance of Trade $6.3B $ 3.4B
2018-09-01 12:00 AM Balance of Trade $ 3.3B
2018-10-01 01:10 AM Balance of Trade $ 5.4B


South Korea Trade Last Previous Highest Lowest Unit
Balance of Trade 6331.21 6554.36 13419.36 -4043.46 USD Million [+]
Exports 51221.18 50844.07 55115.24 14.75 USD Million [+]
Imports 44889.97 44289.71 45873.33 38.61 USD Million [+]
Current Account 8680.00 1770.00 12287.50 -3756.80 USD Million [+]
Current Account to GDP 5.60 7.00 10.70 -10.50 percent [+]
External Debt 433886.70 418823.50 452718.00 80766.40 USD Million [+]
Terms of Trade 98.60 100.40 237.00 86.10 Index Points [+]
Foreign Direct Investment 10820000.00 4934000.00 10820000.00 0.00 USD Thousand [+]
Capital Flows 6862.30 -50.80 12748.40 -3385.80 USD Million [+]
Tourism Revenues 1278700.00 1422900.00 1765400.00 326500.00 USD Million [+]
Tourist Arrivals 1238021.00 1331709.00 1703495.00 213006.00 [+]
Gold Reserves 104.40 104.40 104.44 13.00 Tonnes [+]
Terrorism Index 0.61 0.23 2.62 0.00 [+]
Weapons Sales 587.00 585.00 587.00 7.00 USD Million [+]

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



South Korea Balance of Trade

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 July of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
6331.21 6554.36 13419.36 -4043.46 1966 - 2018 USD Million Monthly




balance of trade by Country
Country Last
Australia 827.00 May/18
Brazil 5881.58 Jun/18
Canada -2771.20 May/18
China 416.13 Jun/18
Euro Area 16514.10 May/18
France -6005.00 May/18
Germany 19669.00 May/18
India -16600.00 Jun/18
Indonesia 1742.60 Jun/18
Italy 3377.54 May/18
Japan -578.32 May/18
Mexico -1587.00 May/18
Netherlands 5030.00 May/18
Russia 15151.00 May/18
South Korea 6331.21 Jun/18
Spain -3050045.00 Apr/18
Switzerland 2255.00 May/18
Turkey -7759.34 May/18
United Kingdom -2790.00 May/18
United States -43053.00 May/18


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