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Korea logs 63rd consecutive trade surplus in April

South Korea posted a trade surplus for 63 straight months in April on a steady recovery in exports, customs data showed Monday.

The country's trade surplus came to $13 billion last month, up from a surplus of $8.7 billion tallied a month earlier, according to the data from the Korea Customs Service.

Asia's fourth-largest economy has enjoyed a trade surplus since February 2012.

(Yonhap)
(Yonhap)

It posted $6.57 billion in trade surplus with Southeast Asian countries in April, followed by China with a surplus of $2.69 billion.

Trade with the United States recorded a surplus of $1.66 billion, down from $2.52 billion tallied a year ago, amid the Seoul government's efforts to reduce its surplus with the world's largest economy.

South Korea's trade surplus with the US rose to $23.25 billion in 2016, more than doubling from $11.64 billion in 2011, a year before the Seoul-Washington free trade pact took effect.

The data showed that South Korea's trade with Middle Eastern nations and Japan recorded a deficit of $3.2 billion and $2.4 billion, respectively.

Exports soared 24.1 percent on-year to $51 billion in April, marking the largest monthly amount since October 2014, while imports rose 17.3 percent on-year to $38 billion.

Outbound shipments have been on a sharp roll since November last year on the back of brisk overseas demand for Korean-made semiconductors and vehicles. (Yonhap)

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