South Korea - Balance of Goods

South Korea: Balance of Goods

Mnemonic TRBG.IKOR
Unit Ths. US$, NSA
Adjustments Not Seasonally Adjusted
Monthly 59.58 %
Data Mar 2021 4,174,600
Feb 2021 2,616,000

Series Information

Source The Bank of Korea
Release Foreign Trade
Frequency Monthly
Start Date 1/31/1966
End Date 3/31/2021

South Korea: Trade

Reference Last Previous Units Frequency
Balance of Goods Mar 2021 4,174,600 2,616,000 Ths. US$, NSA Monthly
Exports of Goods Mar 2021 53,828,000 44,810,000 Ths. US$ NSA Monthly
Imports of Goods Mar 2021 49,653,000 42,193,000 Ths. US$ NSA Monthly
Current Account Balance Feb 2021 8,034 7,060 Mil. USD, NSA Monthly
Exports of Goods and Services 2020 Q4 182,383 180,349 Bil. KRW, SA Quarterly
Imports of Goods and Services 2020 Q4 156,181 157,396 Bil. KRW, SA Quarterly
Net Exports 2020 Q4 26,202 22,952 Bil KRW, SA Quarterly
Real Exports of Goods and Services 2020 Q4 206,367 195,714 Bil. Ch. 2015 KRW, SA Quarterly
Real Imports of Goods and Services 2020 Q4 171,163 167,431 Bil. Ch. 2015 KRW, SA Quarterly
Real Net Exports 2020 Q4 35,203 28,283 Bil. Ch. 2015 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.