S. Korea posts 9.86-bln-USD trade surplus in March

South Korea maintained a trade surplus last month thanks to faster fall in imports than exports, indicating the still lackluster economic conditions, customs data showed on Friday.

Revised figure for trade surplus reached 9.86 billion U.S. dollars in March, up from 7.07 billion dollars in February, according to Korea Customs Service.

For the first three months of this year, the surplus amounted to 22.1 billion dollars, higher than 21.6 billion dollars during the same period of last year.

The March surplus came as imports declined at a faster pace than exports, boosting worry about the so-called "recession-type" surplus.

Exports, which account for about half of the economy, dropped 8.1 percent from a year earlier to 43.01 billion dollars in March. Imports tumbled 13.9 percent to 33.15 billion.

Overseas shipments of telecommunication devices surged 43.4 percent in March from a year ago thanks to strong demand for Samsung's new Galaxy smartphones rolled out last month.

Steel products export increased 4.7 percent due to British demand, but those for semiconductors and automobiles declined 1.5 percent and 5.2 percent respectively.

Exports to the European Union (EU) posted the third consecutive monthly increase, but those to China and the United States, South Korea's top two trading partners, declined 12.3 percent and 3.7 percent each.

Chip imports expanded 7.9 percent last month on demand for cheaper Chinese products, but imports of crude oil tumbled 43 percent on lower oil prices. Car imports dipped 24.1 percent amid the sluggish domestic demand. Enditem