South Korea Trade Surplus Widens in June Over a Year Earlier


In June of 2013, South Korean trade surplus increased to 5.9 billion USD, from 5.1 billion USD a year earlier as exports declined less than imports.

Exports declined to 46.7 billion USD, from 48.4 billion USD in May and 47.2 billion USD in the same month of the previous year, the first annual drop in four months. Although shipments to its three key markets rose, overall exports for the review period shrank, mainly due to fewer working days.

Shipments to China grew by 5.4 percent year-on-year, while exports to the United States increased by 5.7 percent. Exports to the European Union rose by 13.1 percent. Shipments to Japan shrank by 16.6 percent as a result of the yen's depreciation.
Imports went down to 40.7 billion USD, from 42.4 billion USD in May and 42 billion a year earlier, due to lower inbound shipments of raw materials. 

For the first six months of 2013, exports expanded 0.6 percent compared with the same period of last year, while imports shrank 2.6 percent. 

South Korea Trade Surplus Widens in June Over a Year Earlier


Joana Taborda | joana.taborda@tradingeconomics.com
7/15/2013 11:52:28 AM