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S. Korea posts trade surplus for 41 months

Xinhua, July 15, 2015 Adjust font size:

South Korea posted trade surplus for 41 straight months as imports reduced at a faster pace than exports, customs data showed Wednesday.

Revised figure for the June trade surplus was 9.98 billion U.S. dollars, keeping a surplus trend for 41 months since February 2012, according to the customs service.

It was higher than a 6.27 billion-dollar surplus in May.

The surplus trend came as imports declined at a more rapid pace than exports. Imports sank 13.6 percent from a year earlier to 36. 7 billion dollars in June, and exports slid 2.4 percent to 46.68 billion dollars.

Exports of chips, autos, auto parts and smartphones increased last month, but those for ships, display panels, oil products and consumer electronics recorded a double-digit decline.

Shipments to China and the United States, South Korea's top two trading partners, increased 0.8 percent and 6.9 percent each, but those to the European Union and Latin American countries shrank 4. 4 percent and 20.3 percent respectively.

For the first six months of this year, the trade surplus reached 46.3 billion dollars, more than doubling 19.9 billion dollars of surplus for the same period of last year. Endi