S. Korea Posts Trade Surplus

South Korea’s economy posted trade surplus for 60 months through January thanks to a double-digit growth in exports, which account for about half of the economy, customs data showed Wednesday, Yonhap reported. Revised figure for trade surplus reached $2.8 billion in January, staying in the black since February 2012, according to Korea Customs Service. Exports increased 11.2% from a year earlier to $40.3 billion, while imports soared 19.7% to $37.5 billion. Overseas shipment in oil products and semiconductors surged 66.3% and 41.5% respectively, leading the January export expansion. Ship exports tumbled 17.9%.