S. Korea`s trade surplus hits US$2.38 bln in first 20 days of April

(ATTN: ADDS 2nd-quarter forecast at bottom)
SEOUL, April 21 (Yonhap) -- South Korea posted a US$2.38 billion trade surplus in
the first 20 days of April as imports dropped faster than exports amid a
protracted economic downturn, customs officials said Tuesday.
Exports fell 16.5 percent on-year to $17.92 billion during the period, while
imports plunged 39.7 percent to $15.54 billion, the Korea Customs Service said.
The trade surplus compares with a deficit of $4.31 billion in the same period a
year earlier, it said.
The nation's trade account had been in the black for 13 consecutive months since
October 2007 before running a deficit in January, when shortfalls came to $3.63
billion.
In February, it swung to a surplus of $2.9 billion and reached a record monthly
high of $4.28 billion last month.
The nation is expected to post a trade surplus of $14.7 billion during the second
quarter, as imports will remain more sluggish than overseas shipments, according
to a research unit of the Korea International Trade Association (KITA).
kokobj@yna.co.kr
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