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SEOUL, April 1 Asia Pulse - South Korea's trade surplus reached a record US$4.6 billion in March mainly due to a sharp drop in imports and a surge in exports of ships, a government report showed Wednesday.
The country's exports reached US$28.3 billion last month, falling 21.2 per cent on-year, with imports plummeting 36 per cent to US$23.7 billion, according to the Ministry of Knowledge Economy.
The monthly surplus surpassed the previous record of US$3.8 billion tallied for April 1998 when the country struggled to cope with the Asian financial crisis by cutting back on spending.
The ministry said ship sales continued to help exports. Favorable exchange rates, more working days and efforts to increase trade-related financing helped increase outbound shipments compared to the previous month.
"Export volume grew US$2.9 billion last month compared to February, while ...