S. Korea's trade surplus tops US$9.7 bln this year

S. Korea's trade surplus tops US$9.7 bln this year
SEOUL, May 15 (Yonhap) -- South Korea's trade surplus reached US$9.7 billion this
year as sinking exports were more than offset by a sharper drop in imports, a
government report showed Friday.

The Korea Customs Service said the aggregate amount of products shipped abroad
this year as of Thursday hit US$115.5 billion, with imports reaching $105.8
billion.
Outbound shipments fell 33 percent on-year as the global economic crisis hurt
demand for locally made goods, with imports nosediving 44 percent in the cited
period.
Most exports posted negative growth with the exception of ships, which grew by
around 47 percent as of late April. Overseas sales of mobile communications
equipment, semiconductors, autos and display panels all fell in the first four
months of the year.
Inbound shipments of goods were down across the board with both capital and
consumer goods decreasing by double digits.
In 2008, exports gained 13.6 percent annually to exceed $422.0 billion, while
imports increased 22 percent for a trade deficit of $13.2 billion.
The service, meanwhile, said that it collected 17.2 trillion won worth of state
taxes coming into this year, or 34.3 percent of the 50.1 trillion won that Seoul
expects to bring in by the end of 2009. The total does not include money
collected by regional governments.
yonngong@yna.co.kr
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