[THE INVESTOR] A sharp decline in imports managed to outpace a fall in exports, as lessened demand at home and abroad saw South Korea post its 54th consecutive trade surplus in July, customs data showed on Aug. 16.

The country’s trade surplus came to US$7.6 billion last month, plunging from a record US$11.4 billion in the previous month, according to the data from Korea Customs Service.

The figure also marked a 7.8 percent on-year rise from US$7.05 billion tallied in the same month a year earlier, extending its bullish streak to 54 straight months since February 2012.

The consecutive monthly trade surplus came as a protracted economic slowdown dragged down imports at a faster pace than exports.

Exports fell 10.3 percent on-year to US$41 billion last month, while imports retreated 13.6 percent to US$33.4 billion.

(theinvestor@heraldcorp.com)