Korea logs trade surplus for 28th straight month in May
Published : 2014-06-13 09:41
Updated : 2014-06-13 09:41
South Korea logged a trade surplus for the 28th consecutive month in May, despite sluggish exports growth, customs data showed Friday.
South Korea's exports came to $47.8 billion last month, down 1 percent from a year earlier, while imports rose 0.3 percent on-year to $42.5 billion, according to the data from the Korea Customs Service.
Earlier, the trade ministry said that exports declined 0.9 percent and imports increased 3 percent over the same period.
Korea logged a trade surplus of $5.3 billion last month, marking 28 straight months of a surplus since February 2012. During the January-May period, its cumulative trade surplus came to $15 billion, the data showed.
Exports of oil products, ships and auto parts expanded 11.2 percent, 28.1 percent and 10.1 percent, respectively. Those of semiconductors and passenger vehicles declined 1.2 percent and 1.1 percent.
Exports bound for the United States and the European Union expanded 5.5 percent and 32 percent, while those for China and Japan shrank 9.4 percent and 0.8 percent, according to the data. (Yonhap)