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SHIP EXPORTS HELP S. KOREA POST US$1 BLN TRADE SURPLUS IN MAY.

AsiaPulse News

| June 02, 2008 | COPYRIGHT 2008 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

SEOUL, June 2 Asia Pulse - A record surge in exports of ships in May helped South Korea post its first monthly trade surplus in six months, a government report showed Monday.

The Ministry of Knowledge Economy said exports rose 27.2 per cent on-year to $39.49 billion last month, while imports jumped 28.8 per cent to $38.45 billion for a surplus of $1.04 billion.

It said last month's ship exports shot up 56 per cent year-on-year to reach an unprecedented $4.90 billion. The ministry said exports of a $1.3 billion floating production storage and offloading vessel to Nigeria and seven liquid natural gas (LNG) carriers played a key role in bolstering exports.

In addition to ships, exports of petroleum products rose 118 per cent while those of mobile communication equipment, ...

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