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192175
Fri, 07/01/2011 - 05:51
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S. Korea's trade surplus reaches US$3.3 bln in June
(ATTN: UPDATES with additional details, minor changes)
SEOUL, July 1 (Yonhap) -- South Korea's trade surplus widened in June from the previous month, though imports continued to grow at a much faster rate than exports, the government said Friday.
The country's trade surplus came to US$3.3 billion last month, compared with a surplus of $2.75 billion in May, according to the Ministry of Knowledge Economy. The figure marks a 14.5 percent gain from the same period last year.
Exports rose 14.5 percent from a year earlier to $48.2 billion in June with imports jumping 27.4 percent on-year to $44.9 billion. The trade surplus growth started in May as exports rose from $47.6 billion during the month while imports shrank from $45.4 billion.
"The country's trade surplus increased in June from the previous month mainly due to a drop in energy import bills amid a continued strong gain in its key exports," the ministry said in a press release.
The country's total energy imports dropped to $8.59 billion from $8.61 billion in May though its imports of petroleum jumped 62.3 percent amid the country's increasing exports of petroleum products, which jumped 57.5 percent on-year in June, according to the ministry.
Overseas shipments of petrochemical products also rose 23.2 percent from a year earlier with automobile exports rising 17.5 percent on-year.
In the first half of the year, South Korean exports rose 24.4 percent on-year to $275.4 billion and imports gained 26.6 percent to $258 billion for a $17.4 billion trade surplus.
Meanwhile, the ministry again confirmed the country's annual two-way trade volume will reach over $1 trillion for the first time in history this year.
The ministry said the country's exports for the entire year are expected to grow 19.4 percent on-year to $557 billion with its imports growing 24.2 percent to $528 billion.
bdk@yna.co.kr
(END)
SEOUL, July 1 (Yonhap) -- South Korea's trade surplus widened in June from the previous month, though imports continued to grow at a much faster rate than exports, the government said Friday.
The country's trade surplus came to US$3.3 billion last month, compared with a surplus of $2.75 billion in May, according to the Ministry of Knowledge Economy. The figure marks a 14.5 percent gain from the same period last year.
Exports rose 14.5 percent from a year earlier to $48.2 billion in June with imports jumping 27.4 percent on-year to $44.9 billion. The trade surplus growth started in May as exports rose from $47.6 billion during the month while imports shrank from $45.4 billion.
"The country's trade surplus increased in June from the previous month mainly due to a drop in energy import bills amid a continued strong gain in its key exports," the ministry said in a press release.
The country's total energy imports dropped to $8.59 billion from $8.61 billion in May though its imports of petroleum jumped 62.3 percent amid the country's increasing exports of petroleum products, which jumped 57.5 percent on-year in June, according to the ministry.
Overseas shipments of petrochemical products also rose 23.2 percent from a year earlier with automobile exports rising 17.5 percent on-year.
In the first half of the year, South Korean exports rose 24.4 percent on-year to $275.4 billion and imports gained 26.6 percent to $258 billion for a $17.4 billion trade surplus.
Meanwhile, the ministry again confirmed the country's annual two-way trade volume will reach over $1 trillion for the first time in history this year.
The ministry said the country's exports for the entire year are expected to grow 19.4 percent on-year to $557 billion with its imports growing 24.2 percent to $528 billion.
bdk@yna.co.kr
(END)
