Trade Resources Economy Brief Report of South Korea's Trade in August 2016

Brief Report of South Korea's Trade in August 2016

According to the statistics from South Korea’s Customs, its volume of goods trade was USD583.56 billion from January to August in 2016, down 10.1% year-on-year (the same below). Exports fell by 8.8% to USD322.30 billion, and imports fell by 11.6% to USD261.25 billion. The trade surplus grew by 6.0% to USD61.05 billion.

In August, South Korea’s volume of goods trade grew by 1.7% to USD75.14 billion. Exports grew by 2.6% to USD40.12 billion and imports grew by 0.7% to USD35.01 billion. And the trade surplus grew by 17.9% to USD5.11 billion.

Since January to August, bilateral trade volume between South Korea and China fell by 9.7% to USD134.69 billion. South Korea’s exports to China fell by 12.5% to USD78.72 billion. It accounted for 24.4% of South Korea’s overall export, down 1.1%. And South Korea’s imports from China fell by 5.4% to USD55.97 billion. It accounted for 21.4% of South Korea’s overall imports, up 1.4% over the previous year. South Korea’s trade surplus with China fell by 26.2% to USD22.74 billion.

China was the largest trade partner of South Korea up to August in 2016.

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