South Korea Trade Surplus Widens in December

South Korea trade surplus was at USD7.2 billion in December of 2015, up from USD5.55 billion a year earlier but below market expectations, as imports fell more than exports.

In December, outbond shipments tumbled 13.8 percent year-on-year to USD 42.6 billion, far higher than market expectations of a 4.7 percent fall and was the 12th straight month of a decline . Imports fell at a faster 19.2 percent to USD 35.5 billion, below market forecasts of a 18.6 percent drop.

In November of 2015, the country recorded a downwardly revised USD10.3 billion trade surplus, the highest on record.

For the full year of 2015, exports contracted 7.9 percent, the steepest decline since 2009 and the first annual contraction in three years. 64 percent of the decline was due to drop in values of oil-refinery goods and petrochemical products prompted by lower crude prices. Iports fell 16.9 percent, also the most since 2009. 

South Korea Trade Surplus Widens in December

Rida Husna |
1/1/2016 2:47:04 PM