Trade surplus hits record high last year: customs office

SEOUL, Jan. 14 (Yonhap) -- South Korea's trade surplus hit a record high in 2009
as exports recovered faster than expected after a plunge caused by the global
recession, the customs office said Thursday.
The nation's trade surplus amounted to US$40.4 billion last year, the largest
ever since 1998 when the surplus spiked to $39 billion, according to a report by
the Korea Customs Service.
Exports totaled $363.5 billion, down 13.9 percent from a year earlier, while
imports dropped 25.8 percent to $323.1 billion. Shipments abroad had long
remained sluggish due to the global recession but they saw a fast recovery in the
latter part of last year, the report said.
Sales of ships and flat panels led the export rebound. Exports of fixed-line
communications equipment also played a role, though semiconductors, cars and
oil-related products suffered a decline, the report showed.
China was the largest export designation for South Korea. Shipments to the nation
declined 5.1 percent last year but sales still accounted for 23.9 percent of the
total, the largest among the nation's trading partners, the report showed.
kokobj@yna.co.kr
(END)