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SOUTH KOREAN EXPORTS REACH RECORD US$28.2BLN IN JUNE.
SEOUL, July 3 Asia Pulse - South Korean exports reached a record high of US$28.2 billion in June, fueled by strong overseas demand for autos, semiconductors and ships, a government report said Saturday.
The figure represents a 19.2 per cent increase compared to the same month of last year, and reflects the high level of international competitiveness of locally made products, despite unstable exchange rates and steep oil prices, the Ministry of Commerce, Industry and Energy said.
Imports for the month reached $25.9 billion, up 22.1 per cent from a year ago, with the country's trade surplus standing at just under $2.3 billion.
South Korean companies shipped out $1.23 billion worth of goods a day last month, marking the second straight month that the figure exceeded $1.2 billion.
The latest figures are a tentative tally of last month's two-way trade volume and could change later.
The latest report also showed the exports rising 13.9 per cent to $155.5 billion for the first six months of the year, while imports climbed 19.3 per cent to $148.3 billion, resulting in a surplus of $7.2 billion. The surplus is a sharp drop from the $12.2 billion surplus posted a year ago.
Na Do-sung, head of the ministry's trade policy bureau, said the surge in exports in June, and to a larger extent in the first half, reflected double digit growth in key sectors.
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