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.