Korea Trade Balance


Trade surplus widens in June

In June, exports expanded 13.6% over the same month the previous year to reach USD 47.8 billion, according to data released by the Korea Customs Services (KCS). The reading came in below the 22.0% May print (previously reported: +22.4%) and, despite representing the 20th consecutive month that exports expanded at a double-digit rate, marked the slowest expansion since October 2009. According to the Ministry of Knowledge Economy (MKE), the June result reflected a strong increase in petroleum product exports, which surged 57.5% over the previous year and helped to offset a strong contraction (-36.8%) in the export of ships, which constitute one of Korea's main exports. Imports increased 27.5% year-on-year in June, down from May's 30.1% annual increase, reaching USD 44.9 billion. As imports moderated, the trade surplus widened slightly from USD 2.1 billion in May to USD 2.8 billion in June.

Sample Report

Looking for forecasts related to Trade Balance in Korea? Download a sample report now.


Korea Economic News

More news

Search form