Archive · 11 Jun 2025
South Korea's Current Account Surplus Narrows Amid U.S. Tariffs
South Korea's trade surplus, meaning they sold more goods than they bought, is still there but is shrinking.
This is due to the US putting tariffs, or extra taxes, on some South Korean products.
The country has had a trade surplus for a long time.
Exports are still growing a little bit, while imports are going down.
The US tariffs are affecting items like cars, steel, and aluminum.
South Korea is now talking to the US about these tariffs, hoping to reach an agreement soon.
South Korea's current account surplus narrowed in April to US$5.7 billion.
The surplus has been ongoing for 24 months.
The narrowing is partly due to U.S. tariffs on South Korean goods.
Exports to the U.S. decreased 6.8% year-on-year.
South Korea and the U.S. aim to finalize a trade deal before July 8.
- Who
- South Korea
- What
- Narrowing current account surplus.
- When
- April
- Where
- South Korea
- Why
- Due to impact of US tariffs.
- April Current Account Surplus
- US$5.7 billion
- Consecutive Months of Surplus
- 24
- Surplus in Previous Month
- US$9.14 billion
- Year-on-year Export Growth in April
- 1.9%
- Year-on-year Import Decrease in April
- 5.1%
- Duties on South Korean Goods by U.S.
- 25%
- Deadline for US-South Korea Trade Deal
- July 8