Korea Merchandise Exports

Merchandise trade surplus widens in June

Latest reading: In June, the trade balance was USD +36.2 billion, following a USD +27.0 billion reading in the previous month. Over the last 12 months, the trade balance summed to USD +188.3 billion. Merchandise exports surged 70.9% in year-on-year terms in June, following a 53.4% increase in the previous month. Shipments rose for the 13th straight month, with semiconductor exports soaring 199.5%, driven by strong demand for memory chips. Computer exports also surged more than 300%. Merchandise imports rose 30.1% in annual terms in June, coming on the back of 20.7% growth in the prior month. June's reading was the strongest since May 2022.

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Korean merchandise exports projections for the next ten years from a panel of 5 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable merchandise exports forecast available for Korean merchandise exports.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Korean merchandise exports projections.

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