South Korea Balance of Trade

South Korea posted a trade surplus of USD 4.28 billion in March 2024, shifting from a deficit of USD 4.75 billion in the same month a year earlier, below market expectations of a USD 5.75 billion surplus, a preliminary reading showed. It was the tenth straight month of surplus in the trade balance, as exports grew while imports plunged. Sales advanced 3.1% yoy, softer than expectations of a 5.2% rise, the sixth consecutive month of expansion, and the softest pace in the sequence Meanwhile, imports slumped 12.3%, the 13th straight month of drop, compared to market forecasts of an 8.1% fall due to high energy prices. In 2023, purchases slipped 12.1%.