South Korea Trade Surplus Narrows in July

South Korean trade surplus fell to USD 2.52 billion in July of 2014 from a revised USD 5.45 billion surplus in the previous month due to a surge in imports, but remained almost unchanged from USD 2.45 billion a year earlier.

Exports increased 5.7 percent in July of 2014 from a year earlier, recording USD 48.4 billion. Sales increased to a recorded level for wireless communications equipment (24.6 percent), followed by higher deliveries of steel (22.4 percent) and automobiles (20.8 percent). 

In July, higher exports were recorded for the US (19.4 percent), European Union (11.5 percent), Japan (6.0 percent) compared with a year earlier. In contrast, exports declined for China (-7.0 percent), the top destination market.

Imports amounted to USD 45.9 billion in July, a 5.8 percent increase from July of 2013.

South Korea Trade Surplus Narrows in July

Ministry of Trade, Industry and Energy | Isabel Felino |
8/1/2014 8:52:13 AM