South Korea's trade surplus increased to USD 6.94 billion in December 2020 from USD 1.98 billion in the same month a year earlier, a preliminary estimate showed. This was the largest trade surplus since September, as exports jumped 12.6 percent from a year earlier to USD 51.4 billion while imports rose at a softer 1.8 percent to USD 44.4 billion, amid the coronavirus pandemic. Considering the whole year of 2020, exports declined 5.4 percent from a year earlier to USD 512.8 billion, while imports dropped 7.2 percent to USD 467.2 billion, bringing a trade surplus of USD 45.6 billion. source: Ministry of Trade, Industry & Energy (MOTIE)
Balance of Trade in South Korea averaged 1143.76 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 January of 2021.
Balance of Trade in South Korea is expected to be 5708.00 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 2022, according to our econometric models.