South Korea recorded a trade surplus of 6610 USD Million in July of 2025. This dataset provides the latest reported value for - South Korea Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

In 2024, South Korea's trade balance reached approximately **** billion U.S. dollars, marking a significant improvement from the previous year's deficit of about **** billion dollars. The trade deficit in 2022 was the worst recorded since data collection began in the 1950s.

Key information about South Korea's Trade Balance

• South Korea's Trade Balance recorded a surplus of 4.2 USD bn in Feb 2025, compared with a deficit of 1.8 USD bn in the previous month
• South Korea's Trade Balance data is updated monthly, available from Jan 1966 to Feb 2025, with an averaged value of 78.6 USD mn
• The data reached an all-time high of 13.4 USD bn in Sep 2017 and a record low of -12.7 USD bn in Jan 2023

• In the latest reports, South Korea's Total Exports reached 52.5 USD bn in Feb 2025, an increase of 0.2% YoY (year-on-year)
• Total Imports recorded 48.3 USD bn in Feb 2025, an increase of 0.2% YoY (year-on-year)

In 2024, South Korea's trade balance with the United States recorded a surplus that amounted to around ***** billion U.S. dollars. South Korea has become one of the United States’ largest trade partners. The Free Trade Agreement between the two governments came into force in March 2012. As of May 2025, South Korea seeks to delay a decision about tariffs until new presidential elections in June 2025. Korea’s export trade with the U.S. In 2024, the United States was the second most important export trade destination after China. In accordance with the high trade surplus recorded by South Korea, the value of goods exports to the U.S. continued to increase every year. Historically, China and the U.S. were the most important export partner for South Korea, with changes only happening due to domestic or bilateral politics. The effect of U.S. president Trump’s increase of tariffs on the economic relations between the two nations remains to be seen. Korea’s imports from the U.S. Despite the trade balance tipping in clear favor of South Korea, the United States was still one of the most important partners for imports. Overall, the value of goods imported into the country has increased, with a quick recovery from occasional decreases. Next to the imports of goods, the United States have become one of the most important suppliers of foreign direct investment (FDI) for South Korea. Despite this importance, the actual investments were notably lower than the pledged amount.

In 2024, South Korea's trade balance with China amounted to a deficit of about **** billion U.S. dollars. The Free Trade Agreement between the two governments came into force in December 2015.

North Korea recorded a trade deficit of 1578.82 USD Million in 2024. This dataset provides - North Korea Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news.

South Korea's total Exports in 2024 were valued at US$683.13 Billion, according to the United Nations COMTRADE database on international trade. South Korea's main export partners were: China, the United States and Vietnam. The top three export commodities were: Electrical, electronic equipment; Vehicles other than railway, tramway and Machinery, nuclear reactors, boilers. Total Imports were valued at US$631.73 Billion. In 2024, South Korea had a trade surplus of US$51.40 Billion.

In 2024, South Korea recorded a trade deficit of around ***** billion U.S. dollars for clothing. According to the source, South Korea was among the five countries with the highest trade deficit for clothing.

Trade Balance: swda: EU 27E: South Korea: Total data was reported at -1.451 EUR bn in Feb 2025. This records an increase from the previous number of -1.529 EUR bn for Jan 2025. Trade Balance: swda: EU 27E: South Korea: Total data is updated monthly, averaging -0.486 EUR bn from Jan 2002 (Median) to Feb 2025, with 278 observations. The data reached an all-time high of 0.765 EUR bn in Nov 2014 and a record low of -1.846 EUR bn in Sep 2024. Trade Balance: swda: EU 27E: South Korea: Total data remains active status in CEIC and is reported by Eurostat. The data is categorized under Global Database’s European Union – Table EU.JA044: Eurostat: Trade Statistics: By SITC: European Union: South Korea.

Graph and download economic data for International Merchandise Trade Statistics: Trade Balance: Commodities for Korea (XTNTVA01KRQ667N) from Q1 1957 to Q1 2025 about Korea, trade, Net, and goods.

The statistic shows South Korea's trade balance of goods from 2014 to 2024. Trade balance is the value of exported goods minus the value of imported goods. A positive trade balance signifies a trade surplus, while a negative value signifies a trade deficit. In 2024, South Korea's trade deficit amounted to around ***** billion U.S. dollars.

European Union Trade Balance: swda: EU 27E: South Korea: Manufactured Products data was reported at -1.720 EUR bn in Feb 2025. This records an increase from the previous number of -1.808 EUR bn for Jan 2025. European Union Trade Balance: swda: EU 27E: South Korea: Manufactured Products data is updated monthly, averaging -0.660 EUR bn from Jan 2002 (Median) to Feb 2025, with 278 observations. The data reached an all-time high of 0.466 EUR bn in Jul 2014 and a record low of -2.048 EUR bn in Sep 2024. European Union Trade Balance: swda: EU 27E: South Korea: Manufactured Products data remains active status in CEIC and is reported by Eurostat. The data is categorized under Global Database’s European Union – Table EU.JA044: Eurostat: Trade Statistics: By SITC: European Union: South Korea.

South Korea's total Imports in 2024 were valued at US$631.73 Billion, according to the United Nations COMTRADE database on international trade. South Korea's main import partners were: China, the United States and Japan. The top three import commodities were: Mineral fuels, oils, distillation products; Electrical, electronic equipment and Machinery, nuclear reactors, boilers. Total Exports were valued at US$683.13 Billion. In 2024, South Korea had a trade surplus of US$51.40 Billion.

South Korea recorded a Current Account surplus of 5.30 percent of the country's Gross Domestic Product in 2024. This dataset provides - South Korea Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for International Merchandise Trade Statistics: Trade Balance: Commodities for Korea (XTNTVA01KRA667S) from 1957 to 2024 about Korea, trade, Net, and goods.

In 2024, the trade balance of the South Korean shipbuilding industry amounted to approximately **** billion U.S. dollars. This was an increase from the previous year, which had the lowest trade balance recorded since 2006.

In 2024, the trade balance of lithium-ion batteries traded to and from South Korea amounted to a surplus of around *** million U.S. dollars. The leading lithium-ion battery makers in South Korea were LG Energy Solution, Samsung SDI, and SK On.

Key information about South Korea Total Imports

• South Korea Total Imports recorded 48.3 USD bn in Feb 2025, compared with a value of 51.0 USD bn in the previous month
• South Korea Total Imports data is updated monthly, available from Jan 1966 to Feb 2025, with an average number of 8.5 USD bn
• The data reached an all-time high of 66.0 USD bn in Aug 2022 and a record low of 38.6 USD mn in Jan 1966

• In the latest reports, South Korea Total Imports grew 0.2 % YoY in Feb 2025
• Total Exports grew 0.7 % YoY, to 52.5 USD bn in Feb 2025
• South Korea Trade Balance recorded a surplus of 4.2 USD bn in Feb 2025

European Union Trade Balance: swda: EU 27E: South Korea: OtherManufactured Products data was reported at -0.184 EUR bn in Feb 2025. This records an increase from the previous number of -0.271 EUR bn for Jan 2025. European Union Trade Balance: swda: EU 27E: South Korea: OtherManufactured Products data is updated monthly, averaging 0.013 EUR bn from Jan 2002 (Median) to Feb 2025, with 278 observations. The data reached an all-time high of 0.257 EUR bn in May 2005 and a record low of -0.448 EUR bn in Oct 2024. European Union Trade Balance: swda: EU 27E: South Korea: OtherManufactured Products data remains active status in CEIC and is reported by Eurostat. The data is categorized under Global Database’s European Union – Table EU.JA044: Eurostat: Trade Statistics: By SITC: European Union: South Korea.

Gibraltar GI: Trade Balance: Advanced Economies: South Korea data was reported at -213.470 USD mn in 2024. This records an increase from the previous number of -220.483 USD mn for 2023. Gibraltar GI: Trade Balance: Advanced Economies: South Korea data is updated yearly, averaging -1.840 USD mn from Dec 2000 (Median) to 2024, with 25 observations. The data reached an all-time high of 34.904 USD mn in 2014 and a record low of -317.543 USD mn in 2011. Gibraltar GI: Trade Balance: Advanced Economies: South Korea data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Gibraltar – Table GI.IMF.DOT: Trade Balance: by Country: Annual.