South Korea exports rise

Comment on this story
South KoreaExports Reuters. A truck transports containers at Hanjin Shipping's container terminal at the Busan New Port in Busan, about 420 km (261 miles) southeast of Seoul August 8, 2013.

Seoul - South Korea's exports rose 2.5 percent in June from a year ago on robust shipments of tech products and steel, official data showed Tuesday.

Exports for June amounted to $47.8 billion, up 2.5 percent from $46.7 billion, according to Seoul's trade ministry.

Imports rose 4.5 percent to $42.5 billion during the same period, leaving a trade surplus of $5.3 billion.

It marks the 29th consecutive month that South Korea - Asia's fourth-largest economy - has posted a trade surplus.

Overseas shipments of memory chips and mobile gadgets made by firms like Samsung and LG rose on-year 11 percent and 11.6 percent, respectively.

Exports of ships and steel also climbed 10.1 percent and 9.8 percent.

“We expect steady growth of exports particularly in shipbuilding and car-making industries down the road, as recovery in advanced markets like the US and the EU increases global trade,” the ministry said in a statement.

For 2013, the South's exports grew 2.1 percent while imports fell 0.8 percent, which produced a trade surplus of $44.09 billion.

The trade ministry has forecast a 6.4 percent rise in exports this year. - Sapa-AFP



sign up
 
 

Comment Guidelines



  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

  5. Verified email addresses: All users on Independent Media news sites are now required to have a verified email address before being allowed to comment on articles. You are only required to verify your email address once to have full access to commenting on articles. For more information please read our comment guidelines