S.Korea keeps trade surplus for 85 months

0 Comment(s)Print E-mail Xinhua, March 15, 2019
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SEOUL, March 15 (Xinhua) -- South Korea kept trade surplus for 85 months through February on faster reduction in import than export, customs data showed Friday.

Revised figure for trade surplus amounted to 3 billion U.S. dollars in February, according to Korea Customs Service. The trade balance stayed in the black since February 2012.

It came as import declined at a faster pace than export. Import tumbled 12.6 percent over the year to 36.4 billion U.S. dollars in February, while export dipped 11.4 percent to 39.4 billion U.S. dollars.

Semiconductor export plunged 23.9 percent on lower product price, and oil product shipment retreated 13.5 percent last month.

Car component export shrank in February, but those for home appliances and telecommunication devices, such as smartphone, posted a double-digit expansion.

Export to the United States grew 16.1 percent, but shipment to China, South Korea's biggest trading partner, reduced 17.3 percent. Those to the European Union and the Middle East slumped by a double digit. Enditem

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