Latest reading: In July, the trade balance was USD -3.6 billion, following a USD -2.6 billion figure in the previous...
Merchandise Trade Balance in Korea
The merchandise trade balance in Korea averaged USD 45.3 billion in the decade to 2024. The 2024 reading was USD 51.8 billion. For more information on trade, visit our dedicated page.
Korea Trade Chart
Note: This chart displays Trade Balance (USD billion) for Korea from 2014 to 2025.
Source: Macrobond.
Korea Trade Data
| 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|
| Merchandise Trade Balance (USD bn) | 29.3 | -47.8 | -10.3 | 51.8 | 77.4 |
Merchandise trade surplus shrinks in July
Latest reading: In July, the trade balance was USD +30.3 billion, following a USD +36.1 billion reading in the prior month. Over the last 12 months, the trade balance summed to USD +211.5 billion. Merchandise exports increased 62.8% in year-on-year terms in July, following 70.7% growth in the previous month, mainly driven by a surge in semiconductor shipments, which rose for the 14th consecutive month, driven by strong demand for memory chips. Merchandise imports were up 26.5% in year-on-year terms in July, following 30.0% growth in the previous month.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Korean trade 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 trade forecast available for Korean trade.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Korean trade projections.
Want to get access to the full dataset of Korean trade forecasts? Send an email to info@focus-economics.com.
Latest Global Trade News
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Vietnam: Merchandise trade deficit increases in July -
Korea: Merchandise trade surplus shrinks in July Latest reading: In July, the trade balance was USD +30.3 billion, following a USD +36.1 billion reading in the prior... -
Thailand: Merchandise trade deficit widens in June Latest reading: In June, the trade balance was USD -2.7 billion, following a USD -2.6 billion figure in the previous... -
Philippines: Merchandise trade deficit narrows in June Latest reading: In June, the trade balance was USD -4.9 billion, following a USD -6.1 billion figure in the previous... -
Mexico: Merchandise trade surplus increases in June Latest reading: In June, the trade balance was USD +4.1 billion, following a USD +2.3 billion reading in the prior... -
Spain: Merchandise trade deficit increases in May Latest reading: In May, the trade balance was EUR -8.2 billion, following a EUR -5.2 billion figure in the prior... -
Malaysia: Merchandise trade surplus shrinks in June Latest reading: In June, the trade balance was USD +3.7 billion, following a USD +10.1 billion reading in the previous...