S.Korea posts 11.5 bln USD trade surplus in June

South Korea posted 11.5 billion U.S. dollars in trade surplus last month on faster fall in imports than exports, customs data showed on Friday.

Revised figure for trade surplus reached 11.5 billion dollars in June, up from 7 billion dollars in May, according to the Korea Customs Service (KCS). It was higher than a 10 billion-dollar surplus tallied a year ago.

The surplus came as imports declined at a faster pace than exports, which fell 2.7 percent from a year earlier to 45.3 billion dollars in June. Imports dipped 7.7 percent to 33.8 billion dollars.

Ship exports surged 31.4 percent, and consumer electronics shipment rose 1.3 percent. But those for cars, telecommunication devices and oil products tumbled 10.9 percent, 6.3 percent and 27.1 percent respectively.

Exports to China and the United States, South Korea's top two trading partners, diminished 9.4 percent and 7.0 percent each, with those to the European Union (EU) and Japan shrinking 16.3 percent and 3.6 percent respectively.

Automobile imports surged 41.2 percent on demand for foreign luxury cars among local consumers, but crude oil imports tumbled 26.1 percent amid the prolonged trend of cheaper oil.

For the first six months of this year, trade surplus reached 49.3 billion dollars. Exports slumped 9.9 percent over the year to 241.8 billion dollars in the first half, and imports slipped 13.4 percent to 192.5 billion dollars. Endit