S. Korea logs record-high trade surplus in 2013: customs data
Published : 2014-01-14 15:42
Updated : 2014-01-14 15:49
South Korea logged a record-high trade surplus in 2013 thanks to strong export growth, customs data showed Tuesday.
South Korea logged a trade surplus of $44 billion last year. This also marked the fifth consecutive year that the country's trade surplus has topped $25 billion since 2009, according to the data by the Korea Customs Service.
Strong exports played a key role in driving the trade surplus.
Exports hit a record high of $559.6 billion last year, up 2.1 percent from a year earlier. Imports inched down 0.8 percent on-year to $515.6 billion, the data showed.
Exports of passenger vehicles and auto parts grew 4.5 percent and 6 percent, respectively, while those of semiconductors and telecommunications equipment rose 13.3 percent and 11 percent.
By country, exports bound for China and the United States grew 8.6 percent and 6 percent, helping boost the country's trade surplus, according to the data. (Yonhap News)