South Korea Trade Surplus Beats Estimates

South Korea recorded a USD7.39 billion trade surplus in February of 2016, as compared to a USD7.71 billion surplus a year earlier and well above market expectations, as imports dropped more than exports.
Rida Husna | 3/1/2016 6:49:10 AM
In February, exports tumbled 12.2 percent year-in-year to USD36.40 billion, the 14th consecutive month of decline. Sales rose for  computers (+5.2 percent year-on-year) and communications devices, including mobile phones (+2.8 percent). In contrast, exports declined for petrochemical products (-26.9 percent).

Outbond shipments to China, the largest market for South Korean products, fell by 12.9 percent from a year earlier, the eight straight month of decrease. In contrast, exports rose to the US (+4.2 percent),  the EU countries (+5.0 percent) and Vietnam (+17.9 percent).

Imports plunged by 14.6 percent to USD29.0 billion, the 17th straight month of fall.

In January 2015, South Korea posted a downwardly revised USD5.20 billion trade surplus. 

The trade balance has been in consistent surpluses since February 2012.

South Korea Trade Surplus Beats Estimates