Sun, 13 Jun 2021

S. Korea posts trade surplus for 12 months in April

Xinhua
17 May 2021, 15:49 GMT+10

SEOUL, May 17 (Xinhua) -- South Korea posted a trade surplus for 12 straight months due to faster growth in export than import, customs office data showed Monday.

The trade surplus amounted to 430 million U.S. dollars in April, staying in the black for 12 months since May last year, according to Korea Customs Service.

Export soared 41.2 percent from a year earlier to 51.22 billion dollars in April, while import jumped 33.9 percent to 50.79 billion dollars.

The outbound shipment topped 50 billion dollars for the second consecutive month, hitting the highest April figure.

Export to China, South Korea's biggest trading partner, continued to increase over 20 percent for the fourth straight month, and those to the United States and the European Union (EU) kept growing for eight months in a row.

Semiconductor export kept an upward trend for 10 straight months, and automotive shipment grew in double digits for the fourth consecutive month.

Import of raw materials surged 40.7 percent on a higher price for global crude oil.

The inbound shipment for consumer and capital goods soared more than 20 percent last month, reflecting a recovery in domestic demand.

More South Korea News

Access More

Sign up for South Korea News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!