South Korea's trade surplus with China is expected to be weaker than in the past down the road, although it is unlikely to result in a deficit, the finance minister has said.

"It is clear that China will not give our economy a chance to rebound as quickly as it has in the past," Finance Minister Choo Kyung-ho said during a meeting with South Korean reporters in New York on Monday.

Exports to China, South Korea's top trading partner, plunged 33.4 percent on-year in March to reach $10.42 billion, extending the losing streak to the sixth month, as its demand for chips and petrochemical products has weakened amid an economic slowdown.

Choo added the recovery of the Chinese economy is nevertheless expected to have a spillover effect on the South Korean economy with a time lag.

"If China's manufacturing industry is vitalized, it will give a boost to our exports. The consumption by Chinese tourists will also have a positive impact on South Korea's service exports," Choo said.

Regarding South Korea's economic growth, Choo maintained a 1.6 percent rise outlook but added that the country needs to monitor situations in the United States and Europe.

"As the South Korean economy is so open, it is unclear how economic unrest in the US and elsewhere will impact us," Choo said, mentioning the latest banking crisis in the world's top economy. "We always remain vigilant."

Choo was visiting the US to participate in a string of events, including the Group of 20 Finance Ministers and Central Bank Governors' meeting. (Yonhap)