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)

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.

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.

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.

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 Trade Balance: First 10 days data was reported at -1.091 USD bn in Apr 2025. This records an increase from the previous number of -2.082 USD bn for Mar 2025. South Korea Trade Balance: First 10 days data is updated monthly, averaging -1.635 USD bn from Jan 2016 (Median) to Apr 2025, with 112 observations. The data reached an all-time high of 1.873 USD bn in Jun 2016 and a record low of -7.741 USD bn in Aug 2022. South Korea Trade Balance: First 10 days data remains active status in CEIC and is reported by Korea Customs Service. The data is categorized under Global Database’s South Korea – Table KR.JA003: Trade Statistics: First 10 Days. [COVID-19-IMPACT]

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.

South Korea: Trade balance, billion USD: The latest value from 2023 is 8.43 billion U.S. dollars, an increase from 8.37 billion U.S. dollars in 2022. In comparison, the world average is 4.81 billion U.S. dollars, based on data from 148 countries. Historically, the average for South Korea from 1976 to 2023 is 21.35 billion U.S. dollars. The minimum value, -21.98 billion U.S. dollars, was reached in 1996 while the maximum of 105.65 billion U.S. dollars was recorded in 2015.

Graph and download economic data for International Merchandise Trade Statistics: Trade Balance: Commodities for Korea (KORXTNTVA01NCMLM) from Jan 1957 to Jun 2025 about Korea and trade.

Graph and download economic data for International Merchandise Trade Statistics: Trade Balance: Commodities for Korea (XTNTVA01KRQ667S) from Q1 1957 to Q2 2025 about Korea, trade, Net, and goods.

Japan Trade Balance: South Korea data was reported at 194.246 JPY bn in Jun 2018. This records an increase from the previous number of 172.003 JPY bn for May 2018. Japan Trade Balance: South Korea data is updated monthly, averaging 134.349 JPY bn from Jan 1988 (Median) to Jun 2018, with 366 observations. The data reached an all-time high of 336.433 JPY bn in Sep 2008 and a record low of -3.883 JPY bn in Jan 1998. Japan Trade Balance: South Korea data remains active status in CEIC and is reported by Ministry of Finance. The data is categorized under Global Database’s Japan – Table JP.JA003: Trade Balance: By Country.

Korean Companies’ Trade Data provides important information to analyze trends in Korean companies’ export and import trends. This data includes export and import details, trade deficits and surpluses, and tariff information. Collected from Korean government trade statistics data, it helps investors understand global trade trends, manage trade-related risks, and discover new trade opportunities, essential for valuing Korean companies engaged in international trade.

Historical dataset showing South Korea trade balance by year from 1960 to 2023.

Korea Trade Balance: Emerging and Developing Economies data was reported at 4.698 USD bn in May 2018. This records an increase from the previous number of 4.670 USD bn for Apr 2018. Korea Trade Balance: Emerging and Developing Economies data is updated monthly, averaging -2.800 USD mn from Feb 1960 (Median) to May 2018, with 692 observations. The data reached an all-time high of 9.861 USD bn in Sep 2017 and a record low of -2.835 USD bn in Aug 2008. Korea Trade Balance: Emerging and Developing Economies data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Korea – Table KR.IMF.DOT: Trade Balance: by Country: Monthly.

Korea Trade Balance: Emerging and Developing Economies: Europe: CIS: Russia data was reported at -5.045 USD bn in 2017. This records a decrease from the previous number of -3.879 USD bn for 2016. Korea Trade Balance: Emerging and Developing Economies: Europe: CIS: Russia data is updated yearly, averaging -512.862 USD mn from Dec 1992 (Median) to 2017, with 26 observations. The data reached an all-time high of 1.408 USD bn in 2008 and a record low of -6.623 USD bn in 2015. Korea Trade Balance: Emerging and Developing Economies: Europe: CIS: Russia data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Korea – Table KR.IMF.DOT: Trade Balance: by Country: Annual.

In 2023, the trade balance of South Korea with Japan amounted to a deficit of about ***** billion U.S. dollars. This was a decrease in deficit from the previous years.

Historical dataset showing North Korea trade balance by year from N/A to N/A.

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.