ID :
188654
Wed, 06/15/2011 - 07:04
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https://oananews.org//node/188654
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S. Korea logs trade surplus for 16th month in May
South Korea posted a trade surplus for the 16th straight month in May, fueled by strong exports of petroleum products and wireless communications devices, the nation's customs office said Wednesday.
The trade surplus came to US$2.2 billion last month, according to data offered by the Korea Customs Service.
Exports totaled $47.6 billion last month, up 22.4 percent from a year earlier, while imports grew 30.1 percent on-year to $45.4 billion, the data showed.
Oil-related products and wireless communications devices led export growth, with their sales jumping 82.1 percent and 47.6 percent, respectively. Sales of ships and vehicles also rose 23.5 percent and 25.9 percent.
Exports bound for the U.S. grew 24.7 percent to a monthly record of $5.18 billion. Shipments to China and the European Union grew 19.8 percent and 7.4 percent from a year earlier.
Imports increased mostly due to higher costs of raw materials, including of crude oil, which jumped 37.5 percent last month from a year earlier, according to the data.
The trade surplus came to US$2.2 billion last month, according to data offered by the Korea Customs Service.
Exports totaled $47.6 billion last month, up 22.4 percent from a year earlier, while imports grew 30.1 percent on-year to $45.4 billion, the data showed.
Oil-related products and wireless communications devices led export growth, with their sales jumping 82.1 percent and 47.6 percent, respectively. Sales of ships and vehicles also rose 23.5 percent and 25.9 percent.
Exports bound for the U.S. grew 24.7 percent to a monthly record of $5.18 billion. Shipments to China and the European Union grew 19.8 percent and 7.4 percent from a year earlier.
Imports increased mostly due to higher costs of raw materials, including of crude oil, which jumped 37.5 percent last month from a year earlier, according to the data.
