South Korea - Balance of Goods

South Korea: Balance of Goods

Mnemonic TRBG.IKOR
Unit Ths. US$, NSA
Adjustments Not Seasonally Adjusted
Monthly 31.22 %
Data Oct 2020 5,981,000
Sep 2020 8,696,000

Series Information

Source The Bank of Korea
Release Foreign Trade
Frequency Monthly
Start Date 1/31/1966
End Date 10/31/2020

South Korea: Trade

Reference Last Previous Units Frequency
Balance of Goods Oct 2020 5,981,000 8,696,000 Ths. US$, NSA Monthly
Exports of Goods Oct 2020 44,978,000 48,041,000 Ths. US$ NSA Monthly
Imports of Goods Oct 2020 38,997,000 39,345,000 Ths. US$ NSA Monthly
Current Account Balance Sep 2020 10,213 6,565 Mil. USD, NSA Monthly
Real Exports of Goods and Services 2020 Q3 194,998 168,724 Bil. Ch. 2015 KRW, SA Quarterly
Real Imports of Goods and Services 2020 Q3 166,305 158,478 Bil. Ch. 2015 KRW, SA Quarterly
Real Net Exports 2020 Q3 28,692 10,245 Bil. Ch. 2015 KRW, SA Quarterly
Exports of Goods and Services 2020 Q2 156,648 191,258 Bil. KRW, SA Quarterly
Imports of Goods and Services 2020 Q2 151,848 172,797 Bil. KRW, SA Quarterly
Net Exports 2020 Q2 4,800 18,461 Bil KRW, SA Quarterly

Release Information

Korea's trade statistics include export and import statistics. The Korea Customs Service (KCS) is responsible for collecting, processing, compiling and publishing the statistics of country's exports and imports.

The legal basis for compiling and publishing the trade statistics of Korea is the Customs Act of the Republic of Korea.

Clearance Planning Division of Clearance Facilitation Bureau is the responsible division in charge of the trade statistics affairs. In general, we abide by the UN recommendation (International Merchandise Trade Statistics; Concepts and Definitions, Rev. 2) in compiling trade statistics.

Trade statistics comprise all goods which add to or subtract from the stock of material resources of South Korea by entering (imports) or leaving (exports) its economic territory (with the exceptions mentioned below).

Export statistics

  • Goods exported through the customs clearances (including postal items)
  • Exports manufactured at bonded factories or free export zones
  • Returns of imported goods - Re-exports of imported goods after processing procedure

Import statistics

  • Goods imported through the customs clearances (including postal items)
  • Returns of exported goods
  • Re-imports of exported goods after processing procedure
  • Goods authorized to use at bonded-factories or free trade zones after introduced to these areas

Time of recording

Imports and exports are recorded on the following dates:

  • Goods for import and export : date of acceptance of declaration
  • Goods approved for use prior to the acceptance of import : date of approval
  • Goods approved for use in bonded factory, bonded construction site, export free zone : date of approval for use 

The previous period and same period last year are revised in the latest release.