South Korea Trade Surplus Widens 25.7% YoY in March

South Korean trade surplus increased to USD 4.19 billion in March of 2014, up from a USD 933 million surplus in the previous month and USD 3.33 billion surplus a year earlier. Exports jumped to the second-highest value on record due to higher demand from the US and the EU.

Exports rose 5.2 percent on the year to USD 49.76 billion, following a revised 1.5 percent gain in February. Sales to the US and the EU surged 17 percent and 15.2 percent yoy, respectively, up from 6.7 percent and 10.6 percent in February. Shipments to China increased 4.5 percent in annual terms. 

By product, sales of mobile communication devices rose 32.1 percent yoy and shipments of automobiles and semiconductors spiked 15.9 percent and 14 percent, respectively.

In contrast, shipments of petroleum and petrochemical products decreased 3.5 percent and 5 percent yoy, respectively.

Imports increased 3.5 percent from a year earlier to USD 45.57 billion, compared with a revised 3.9 percent gain in February.

South Korea Trade Surplus Widens 25.7% YoY in March

Joana Taborda |
4/1/2014 11:40:10 AM