S. Korea's exports up 18.8 pct, trade surplus tops $4 bln in Nov.

(ATTN: UPDATES with more details, in paras 5, 8-9, 12-13)
SEOUL, Dec. 1 (Yonhap) -- South Korea posted a trade surplus for the 10th
straight month in November, with exports returning to positive territory after a
year of negative growth, helped by growing demand for semiconductors, displays
and petrochemicals, a government report showed Tuesday.
Outbound shipments rose 18.8 percent from a year ago to US$34.27 billion last
month with imports gaining 4.7 percent to $30.22 billion, for a monthly surplus
of $4.05 billion, according to the report by the Ministry of Knowledge Economy.
November's trade surplus was larger than the $3.63 billion tallied for October.
Last month's figures also marked the first time exports increased on-year since
the 10 percent annual gain reported in October 2008.
"A surge in exports of such products as semiconductors, liquid crystal displays
and petrochemicals all helped push up exports last month," said Kang Myung-soo,
head of the ministry's export-import division.
He said the daily export figures reached $1.49 billion won in November, a clear
sign that the country's exports have started to pick up pace.
Outbound shipments of semiconductors soared 80.7 percent with exports of displays
and petrochemicals jumping 66.8 percent and 47.8 percent, respectively, in the
cited month.
Imports did better than the previous months, fueled by an increase in demand for
capital goods and consumer products.
Capital goods imports rose 25.9 percent on-year with local demand for foreign
made consumer products and fuel-related goods increasing 22.7 percent and 80.8
percent during the months.
Overseas sales to the United States, Japan and Europe all posted modest gains
vis-a-vis last year, while shipments to China and Latin American economies gained
52.2 percent and 63.8 percent on-year.
The ministry, which in charge of the country's trade promotion policies, said
last month's export surge was expected. South Korea's outbound and inbound trade
nosedived 19.5 percent and 15.0 percent, respectively, the year before, following
the Lehman Brothers debacle.
In the first 11 months of this year, South Korean exports contracted 16.9 percent
to $328.31 billion, while imports fell 28.9 percent to $290.49 billion for a
trade surplus of $37.82 billion.
South Korea's exports are expected do well in December with the annual surplus
expected to exceed a record $40 billion for the first time ever.
For 2010, government officials forecast exports to continue pull off growth as
the global economy starts to shake off its lethargy, although the size of the
country's trade surplus may fall off sharply to around $20 billion.
yonngong@yna.co.kr
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