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S. KOREA POSTS TRADE SURPLUS OF US$1.22 BLN IN OCTOBER.
SEOUL, Nov. 3 Asia Pulse - South Korea posted a trade surplus of US$1.22 billion in October on a surge in exports of ships and oil products as well as lower crude prices, a government report showed Monday.
Exports rose 10 per cent on-year to $37.89 billion last month, while imports gained 12 per cent to $36.67 billion, according to the report by the Ministry of Knowledge Economy. It was the nation's first trade surplus since May.
In the January-October period, South Korea's cumulative trade deficit reached $13.45 billion, compared with a surplus of $13.62 billion a year earlier.
According to the report, ship exports jumped 118 per cent annually to $4.17 billion, with overseas shipments of oil products and mobile communication equipment surging 45 per cent and 14 per cent, respectively.
Oil product exports topped $3.36 billion thanks to steady demand from China and Southeast Asia, with overseas shipments of mobile telecommunication equipment reaching $3.98 billion.
Besides ships, oil products and mobile telecommunication equipment, exports of steel increased 40 per cent with slight gains being posted for textiles, auto parts and general machinery.
Petrochemicals posted zero growth, while exports for crystal displays, autos, semiconductors, consumer electronics and computers declined during the month vis-a-vis ...
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Source: HighBeam Research, S. KOREA POSTS TRADE SURPLUS OF US$1.22 BLN IN OCTOBER.