South Korea Trade Surplus Hits Fresh Record High in June

South Korea trade surplus was at USD 10.25 billion in June of 2015, up from USD 5.35 billion a year earlier and beating market consensus. It is the largest surplus on record, as imports fell more than exports.

Year-on-year, exports in June fell by 1.8 percent to USD 46.95 billion, the sixth straight monthly decline, after registering a 10.9 percent drop in the preceding month. Sales of petroleum products were down 14.4 percent and those of petrochemical products declined by 12.8 percent. In contrast, outbond shipments of  mobile communication devices increased by 17.9 percent with exports of steel products growing by 7.6 percent and automobiles rising 6.5 percent on-year.

Exports to China, the world's largest market for South Korean products, grew marginally by 0.9 percent year-on-year while those to the US increased by 10.9 percent. In contrast, shipments to Japan fell by 12.7 percent. 

Imports declined by 13.6 percent to USD 36.70 billion, following a revised 15.4 percent decrease in May.

The trade balance has been in consistent surpluses since February 2012.

South Korea Trade Surplus Hits Fresh Record High in June

Rida Husna l
7/1/2015 12:25:18 PM