South Korea Trade Surplus Widens in October on Record Exports

In October of 2013, South Korean trade surplus increased to 4.9 billion USD, up from 3.7 billion USD a year earlier. Exports surged 7.3 percent year-on-year and reached the highest value on record, boosted by increased demand for mobile phones and cars from the US and the EU.
Joana Taborda | joana.taborda@tradingeconomics.com 11/1/2013 10:07:20 AM
Exports amounted to 50.5 billion USD in October of 2013, up from last year’s figure of 47 billion USD. 

Shipments to the US, the EU and China surged 23.2 percent, 16 percent and 5.5 percent, respectively. Exports of mobile phones recorded the highest increase and jumped 33 percent. Sales of cars (mainly to the US) and semiconductors and also helped to boost October exports (rose 21 percent and 15 percent, respectively). 

Imports amounted to 45.6 billion USD, up by 5 percent over a year earlier. 

South Korea Trade Surplus Widens in October on Record Exports