FX.co ★ South Korea Trade Surplus Largest Since 2017

In November 2025, South Korea reported an increased trade surplus of USD 9.74 billion, a significant rise from the USD 5.61 billion observed in the same month of the previous year. This figure surpassed analysts' predictions, which stood at USD 8.4 billion, based on preliminary data. This marks the highest trade surplus since September 2017, driven by a notable increase in exports compared to imports. Export activity surged by 8.4% year-on-year, an acceleration from the revised 3.5% growth seen in October, exceeding the anticipated 5.7% growth and extending a six-month streak of export expansion. This robust performance is attributed to strong demand for semiconductors, which remain South Korea's leading export commodity. Additionally, in a move announced last month, South Korea and the United States agreed to lower mutual tariffs from 25% to 15%, as per their agreement in July, although tariffs on automobiles and auto parts will stay at 25%. On the import side, there was a 1.2% increase, recovering from a 1.5% decline in October and contrasting with the expected 3.4% growth.