ID :
73351
Sat, 08/01/2009 - 19:55
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https://www.oananews.org//node/73351
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S. Korea`s trade surplus tops US$5.1 bln in July
(ATTN: UPDATES with more details throughout)
By Lee Joon-seung
SEOUL, Aug. 1 (Yonhap) -- South Korea's trade surplus reached US$5.14 billion in
July as imports plunged faster than exports, a government report showed Saturday.
Exports fell 20.1 percent on-year to $32.73 billion last month, while imports
plummeted 35.8 percent to $27.59 billion, according to the report by the Ministry
of Knowledge Economy.
The monthly surplus is smaller than the record $7.27 billion tallied for June.
The ministry said exports of ships, which have played a crucial role in helping
the country maintain a trade surplus in recent months, gained 7.6 percent on-year
with outbound shipments of liquid-crystal displays surging 33.6 percent.
But exports of mobile communication equipment, semiconductors, autos and textiles
all posted negative growth, although the rate of decline improved compared to the
first half of the year.
Exports of mobile communication equipment declined 12.2 percent, with
semiconductors and autos falling 15.5 percent and 18.1 percent, respectively, in
the cited month.
Exports to China, South Korea's top export market, dropped 15.7 percent annually,
with shipments to the European Union and the United States falling 35.8 percent
and 26.5 percent, respectively.
Imports, meanwhile, continued to fall short of last year's total as the country
used less money to buy crude oil, natural gas and other raw materials.
Oil and natural gas imports were down 51.5 percent and 65.9 percent on-year, with
steel imports also plunging 59.7 percent.
Despite a 13.1 percent decline in capital good import spending last month, local
companies were beginning to buy more semiconductor and precision machinery parts
from overseas, potentially leading to production gains, the ministry said.
The trade surplus in July marks the sixth straight month that the country posted
a monthly trade surplus.
In the first seven months of this year, South Korea shipped $198.39 billion worth
of goods -- a drop of 22.2 percent compared to last year. It imported $172.15
billion in the same period for a surplus of $26.23 billion.
yonngong@yna.co.kr
(END)
By Lee Joon-seung
SEOUL, Aug. 1 (Yonhap) -- South Korea's trade surplus reached US$5.14 billion in
July as imports plunged faster than exports, a government report showed Saturday.
Exports fell 20.1 percent on-year to $32.73 billion last month, while imports
plummeted 35.8 percent to $27.59 billion, according to the report by the Ministry
of Knowledge Economy.
The monthly surplus is smaller than the record $7.27 billion tallied for June.
The ministry said exports of ships, which have played a crucial role in helping
the country maintain a trade surplus in recent months, gained 7.6 percent on-year
with outbound shipments of liquid-crystal displays surging 33.6 percent.
But exports of mobile communication equipment, semiconductors, autos and textiles
all posted negative growth, although the rate of decline improved compared to the
first half of the year.
Exports of mobile communication equipment declined 12.2 percent, with
semiconductors and autos falling 15.5 percent and 18.1 percent, respectively, in
the cited month.
Exports to China, South Korea's top export market, dropped 15.7 percent annually,
with shipments to the European Union and the United States falling 35.8 percent
and 26.5 percent, respectively.
Imports, meanwhile, continued to fall short of last year's total as the country
used less money to buy crude oil, natural gas and other raw materials.
Oil and natural gas imports were down 51.5 percent and 65.9 percent on-year, with
steel imports also plunging 59.7 percent.
Despite a 13.1 percent decline in capital good import spending last month, local
companies were beginning to buy more semiconductor and precision machinery parts
from overseas, potentially leading to production gains, the ministry said.
The trade surplus in July marks the sixth straight month that the country posted
a monthly trade surplus.
In the first seven months of this year, South Korea shipped $198.39 billion worth
of goods -- a drop of 22.2 percent compared to last year. It imported $172.15
billion in the same period for a surplus of $26.23 billion.
yonngong@yna.co.kr
(END)
