South Korea exports rise

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.

Buying RTG will increase Labat's revenue. Credit: REUTERS

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