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South Korea Balance of Trade

Last Release
Dec 31, 2024
Actual
6,490
Units In
USD Million
Previous
5,610
Frequency
Monthly
Next Release
Feb 01, 2025
Time to Release
28 Days 23 Hours
Jan 24Apr 24Jul 24Dec 24040008000
Highest
Lowest
Average
Date Range
Source
13,419.36
Sep 2017
-12,650
Jan 2023
1,100.12 USD Million1966-2024N/A
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.

Latest Updates

South Korea's trade surplus widened to USD 6.49 billion in December 2024 from USD 4.45 billion in the same month a year earlier, surpassing market expectations for a gain of USD 4.21 billion and marking the largest amount since September, flash figures showed. The latest result marked the 19th straight month of trade surplus, with exports growing 6.6% yoy, the strongest rise since June, to a 31-month peak of USD 61.38 billion. Meanwhile, imports rose 3.3% to the biggest numbers since March 2023 of USD 54.8 billion. For the full 2024, South Korea logged a trade surplus of USD 51.80 billion, recovering from a two-year run of deficits since 2022, when its trade balance fell into the red for the first time in 14 years. Despite the resilience, the trade-reliant economy appears to be slowing down as global commerce becomes increasingly uncertain, amid the risks of rising tariffs and a renewed US-China trade conflict following Donald Trump's victory in the US presidential race in November.

South Korea Balance of Trade History

Last 12 readings
Jan 24Feb 24Mar 24Apr 24May 24Jun 24Jul 24Aug 24Sep 24Oct 24Nov 24Dec 2402.00 K4.00 K6.00 K8.00 K

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