South Korea's trade surplus narrowed to USD 2.02 billion in December 2019 from USD 4.18 billion in the same month a year earlier, preliminary data showed. This was the smallest trade surplus since August, as exports tumbled 5.2 percent, largely due to the US-China conflict, but fell less compared to an annual 14.4 percent decline in November. Meanwhile, imports dropped at a softer much softer pace of 0.7 percent compared to a 13.0 percent plunge in the previous month. Considering 2019 full year, the trade surplus narrowed sharply to USD 39.19 billion from USD 69.66 billion in 2018.
Balance of Trade in South Korea averaged 1094.99 USD Million from 1966 until 2019, 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. source: Ministry of Trade, Industry & Energy (MOTIE)
Balance of Trade in South Korea is expected to be 3500.00 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 2020, according to our econometric models.