According to the Ministry of Trade, Industry and Energy, the value of exports was USD 43.0 billion in February. The reading represented a 1.6% expansion compared to the same month last year and marked an improvement over the 0.2% contraction observed in January. Imports growth accelerated to a 4.0% annual expansion in February (January: -1.0% year-on-year), which drove imports to USD 42.1 billion. The trade balance recorded a USD 900 million surplus in February, which was slightly up from the USD 800 million surplus registered the previous month, but was well below the USD 1.9 billion surplus recorded in the same month last year. In the 12 months up to February, the trade surplus reached USD 43.5 billion. FocusEconomics Consensus Forecast panelists expect exports to expand 7.3% in 2014 and to accelerate to 8.1% in 2015.
Korea Trade Balance
Trade surplus widen on rising exports
March 13, 2014
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Korea Trade Balance Chart
Korea Economic News
October 13, 2016
At its 13 October monetary policy meeting, the Bank of Korea (BoK) announced that it will hold the base rate constant at a record low of 1.25%, which was largely in line with market expectations.
October 5, 2016
In September, consumer prices rose 0.6% over the previous month, which contrasted the 0.1% decrease in August and overshot the 0.2% increase the markets had expected.
October 3, 2016
Korea’s Customs Services reported that exports totaled USD 40.9 billion in September, which represented a 5.9% contraction over the USD 43.4 billion recorded in the same month last year.
September 30, 2016
The forward-looking business confidence indicator (BSI) for the manufacturing sector produced by the Bank of Korea (BoK) rose from 74 points in September to 75 points in October.
September 30, 2016
In August, industrial production accelerated and expanded 2.3% year-on-year, which was up from both the 1.6% increase registered in July and the 1.6% rise the markets had expected.