45523
S. Korea Posts $11.5b Trade Surplus
World Economy

S. Korea Posts $11.5b Trade Surplus

South Korea posted $11.5 billion in trade surplus last month on faster fall in imports than exports, customs data showed on Friday, Xinhua reported. Revised figure for trade surplus reached $11.5 billion in June, up from $7 billion in May, according to the Korea Customs Service. It was higher than a $10 billion surplus tallied a year ago. The surplus came as imports declined at a faster pace than exports, which fell 2.7% from a year earlier to $45.3 billion in June. Imports dipped 7.7% to $33.8 billion. Ship exports surged 31.4%, and consumer electronics shipment rose 1.3%. But those for cars, telecommunication devices and oil products tumbled 10.9%, 6.3% and 27.1% respectively. Exports to China and the United States, South Korea’s top two trading partners, diminished 9.4% and 7% each, with those to the European Union and Japan shrinking 16.3% and 3.6% respectively. Automobile imports surged 41.2% on demand for foreign luxury cars among local consumers, but crude oil imports tumbled 26.1% amid the prolonged trend of cheaper oil.

Short URL : http://goo.gl/vaszie
  1. http://goo.gl/ZvmA0x
  • http://goo.gl/3639OX
  • http://goo.gl/J1qPGY
  • http://goo.gl/mtZn6K
  • http://goo.gl/FZ1l4Z

You can also read ...

An expanding trade war threatens to squeeze incomes.
The untold story of the world economy—so far at least—is the...
Russia has been seeking ways of decreasing dependence  on the US currency.
One of Russia’s largest banks, VTB is seeking to decrease the...
Uncertainty abounds in Malaysia, where a two-month-old government is only starting to give  a clearer picture of economic policy.
For Southeast Asia's biggest economies, 2018 wasn't supposed...
PwC Says Australian Firms Deliberately Going Broke
Companies that deliberately fail are costing the Australian...
Asian Stocks Retreat, European Shares Mixed
Asian stocks closed lower on Monday as investors digested the...
Turkey Budget Deficit Expands
Turkey’s central government budget balance recorded a deficit...
Chinese Premier Li Keqiang (C) shakes hands with Jean-Claude Juncker (L) and Donald Tusk after the meeting in Beijing on Monday.
China could open its economy if it wished, European Commission...
Experts Say China Can Cope With Uncertain H2
China is confident it can cope with a more uncertain second...

Trending

Googleplus