S. Korea post trade surplus in first 20 days of Feb.

SEOUL, Feb. 22 (Yonhap) -- South Korea posted a trade surplus in the first 20
days of this month thanks to slight gains in exports growth and weak demand for
imported goods, the government said Sunday.

The Ministry of Knowledge Economy said exports gained 0.4 percent on-year to
$17.79 billion in the cited period, while imports plunged 23.2 percent to $16.86
billion for a surplus of $930 million.
"The gains were brought on by $1.5 billion increase in ship exports vis-a-vis the
previous month, a drop in crude oil prices and seasonal factors like the Lunar
New Year holiday," a official said. He added that overall business conditions
remain difficult because of the economic crisis.
Ships make up a sizable part of the country's exports and are not easily affected
by sudden downturns as they are ordered well in advance. The Lunar New Year
holiday, which fell in February last year, took place in late January, leaving
more working days this month and helping industrial production.
The ministry in charge of industrial policy and trade said the figures reflect a
turnaround from the record 33.8 percent annual plunge in exports tallied for
January. It added that since most exports go out towards the end of the month,
numbers may go up.
If present conditions continue a trade surplus is likely for this month and for
March, it added.
yonngong@yna.co.kr
(END)