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.

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South Korea Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
436.00 -1392.81 13419.36 -4043.46 1966 - 2020 USD Million Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-03-01 12:00 AM Feb $4.12B $0.62B $2.9B
2020-04-01 12:00 AM Mar $5.04B $4.12B $ 3.5B
2020-05-01 12:00 AM Apr $-0.95B $5.04B $3.2B
2020-06-01 12:00 AM May $0.44B $-1.4B
2020-07-01 12:00 AM Jun $0.44B $ 4.1B
2020-08-01 12:00 AM Jul
2020-09-01 12:00 AM Aug
2020-10-01 12:00 AM Sep $ 9.5B


News Stream
South Korea Trade Surplus Narrows in May
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.
2020-06-01
South Korea Posts Trade Gap for First Time in Over 8 Years
South Korea reported a trade deficit of USD 0.95 billion in April of 2020, shifting from a surplus of USD 3.73 billion in the same month a year earlier, a preliminary estimate showed. This was the first trade gap since January 2012, reflecting damage caused by the COVID-19 crisis and a crash in the global oil market. Year-on-year, exports plunged 24.3 percent to USD 36.92 billion, the smallest figure since February 2016; while imports tumbled 15.9 percent to USD 37.87 billion. Considering the first four months of the year, the country posted a trade surplus of USD 8.53 billion, narrowing from a USD 12.59 billion surplus in the corresponding period of 2019.
2020-05-01
South Korea Trade Surplus Little-Changed in March
South Korea's trade surplus was USD 5.04 billion in March 2020, little-changed from last year's USD 5.01 billion, a preliminary estimate showed. Both exports and imports fell, defying markets that had forecast increases. Considering the first three months of the year, the trade surplus increased to USD 9.48 billion from USD 8.86 billion in the corresponding period of 2019.
2020-04-01
South Korea Trade Surplus Largest in 4 Months
South Korea's trade surplus widened to USD 4.1 billion in February 2020 from USD 2.8 billion in the same month of the previous year, a preliminary estimate showed. This was the largest trade surplus since October last year as exports rose 4.5 percent, the first month of increase in 15 months despite the outbreak of the new coronavirus, due to the timing of the Lunar New Year holiday which added three business days to the month this year. There were increases in sales of semiconductors (9.4 percent), computers (89.2 percent), wireless communication devices (8.0 percent), and textiles (19.8 percent). Meanwhile, imports advanced at a softer 1.4 percent.
2020-03-01

South Korea Balance of Trade
South Korea remained as a net exporter for the 11th consecutive year in 2019 with a trade surplus of USD 39.2 billion, despite a downturn in semiconductors, petrochemicals, and petroleum products industry and challenges such as the US-China trade dispute, Japan’s restrictions on exports, Brexit, and Hong Kong protests.