South Korea's trade surplus decreased to USD 0.44 billion in May 2020 from USD 2.08 billion in the same month a year earlier, a preliminary estimate showed. Exports tumbled 23.7 percent to the lowest level in over a decade, while imports plunged 21.1 percent to a three-and-a-half-year low. Considering the first five months of the year, the trade surplus narrowed sharply to USD 7.36 billion from USD 14.68 billion in the corresponding period of 2019.
Balance of Trade in South Korea averaged 1097.42 USD Million from 1966 until 2020, 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. 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 - data, historical chart, forecasts and calendar of releases - was last updated on June of 2020. source: Ministry of Trade, Industry & Energy (MOTIE)
Balance of Trade in South Korea is expected to be 4100.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in South Korea to stand at 5800.00 in 12 months time. In the long-term, the South Korea Balance of Trade is projected to trend around 5800.00 USD Million in 2021, according to our econometric models.