South Korea Trade Surplus Widens in November

South Korea's trade surplus totaled $4.5 billion, up from $3.7 billion in October. Despite unfavorable economic conditions, both exports and imports continued their upward trend.
Ministry of Knowledge Economy | Andre Crujo | 12/14/2012 5:50:52 PM

Exports climbed 3.9 percent year on year to $47.8 billion and the average value of all exports per day also rose 3.9 percent to $2.0 billion. On the back of a growing market share and brisk sales of smartphones for the holiday season, outbound shipments of wireless communications devices jumped 25.3 percent.

South Korea also shipped more computers as the Christmas season approaches. Exports of general machinery and ships, however, showed negative growth due to a stronger currency and sluggish global market. While exports to the ASEAN region and China gained, outbound shipments to the United States and the European Union declined.  

Meanwhile, imports rose 0.7 percent from a year earlier to $43.3 billion and the average value of all imports per day increased 0.7 percent to $1.8 billion. Imports of raw materials fell 3.7 percent partly due to weaker demand for coal.

While inbound shipments of capital goods rose 3.6 percent, imports of consumer goods shrank 7.1 percent. Imports from Japan and China showed
negative growth.

South Korea Trade Surplus Widens in November