Most Popular
-
1
Actor Jung Woo-sung admits to being father of model Moon Ga-bi’s child
-
2
Wealthy parents ditch Korean passports to get kids into international school
-
3
Man convicted after binge eating to avoid military service
-
4
First snow to fall in Seoul on Wednesday
-
5
Final push to forge UN treaty on plastic pollution set to begin in Busan
-
6
Korea to hold own memorial for forced labor victims, boycotting Japan’s
-
7
Nvidia CEO signals Samsung’s imminent shipment of AI chips
-
8
Industry experts predicts tough choices as NewJeans' ultimatum nears
-
9
Job creation lowest on record among under-30s
-
10
NK troops disguised as 'indigenous' people in Far East for combat against Ukraine: report
South Korea’s trade surplus surged to a nearly three-year high in May, as an economic recovery of its two largest exporting partners fueled brisk outbound shipments, the government said Saturday.
South Korea chalked up a trade surplus of $6.03 billion last month, compared with a surplus of $2.39 billion a year earlier, according to the Ministry of Trade, Industry and Energy.
Exports gained 3.2 percent on-year to $48.37 billion, while imports fell 4.8 percent to $42.34 billion over the cited period, the ministry said.
The May trade surplus is the largest logged since October 2010, marking the 16th consecutive month the country’s trade balance has stayed in the black.
The sharp on-year growth in trade surplus came as exports performed well on increased demand from the United States and China, the ministry noted.
As the world’s two biggest economies showed signs of recovery from the prolonged downturn, exports in IT products saw booming demand. The outbound shipments of mobile and telecom products spiked 62.5 percent on-year in May, followed by a 17.4 percent gain in autos and 6.2 percent in petrochemical goods. (Yonhap News)
South Korea chalked up a trade surplus of $6.03 billion last month, compared with a surplus of $2.39 billion a year earlier, according to the Ministry of Trade, Industry and Energy.
Exports gained 3.2 percent on-year to $48.37 billion, while imports fell 4.8 percent to $42.34 billion over the cited period, the ministry said.
The May trade surplus is the largest logged since October 2010, marking the 16th consecutive month the country’s trade balance has stayed in the black.
The sharp on-year growth in trade surplus came as exports performed well on increased demand from the United States and China, the ministry noted.
As the world’s two biggest economies showed signs of recovery from the prolonged downturn, exports in IT products saw booming demand. The outbound shipments of mobile and telecom products spiked 62.5 percent on-year in May, followed by a 17.4 percent gain in autos and 6.2 percent in petrochemical goods. (Yonhap News)
-
Articles by Korea Herald
