South Korea recorded a trade surplus of 6940 USD Million in May 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.

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

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.

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 2013 to 2023. 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 2023, 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.

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]

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.

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.

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 May 2025 about Korea and trade.

North Korea KP: Trade Balance: Advanced Economies: Slovak Republic data was reported at 0.001 USD mn in 2017. This records a decrease from the previous number of 0.002 USD mn for 2016. North Korea KP: Trade Balance: Advanced Economies: Slovak Republic data is updated yearly, averaging 0.062 USD mn from Dec 1993 (Median) to 2017, with 25 observations. The data reached an all-time high of 3.220 USD mn in 1993 and a record low of -5.092 USD mn in 2005. North Korea KP: Trade Balance: Advanced Economies: Slovak Republic data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s North Korea – Table KP.IMF.DOT: Trade Balance: by Country: Annual.

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.

This statistic shows the international trade balance of service industry in South Korea from 2010 to 2016. In 2016, the service trade deficit in South Korea amounted to about 17.6 billion U.S. dollars.

Korea Trade Balance: Emerging and Developing Economies: Western Hemisphere: Paraguay data was reported at 15.974 USD mn in May 2018. This records an increase from the previous number of 11.589 USD mn for Apr 2018. Korea Trade Balance: Emerging and Developing Economies: Western Hemisphere: Paraguay data is updated monthly, averaging 3.105 USD mn from Nov 1977 (Median) to May 2018, with 463 observations. The data reached an all-time high of 27.102 USD mn in Nov 2011 and a record low of -19.881 USD mn in Nov 2017. Korea Trade Balance: Emerging and Developing Economies: Western Hemisphere: Paraguay 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.

This statistic shows the trade balance of South Korea with Canada up to 2017, since the Free Trade Agreement came into force in 2015. In 2017, South Korea 's trade deficit with Canada amounted to about ****** million U.S. dollars.

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.