Investment News
- Home
- About Us
- Newsroom
- Investment News
South Korea's trade balance shifted to the black in February from a deficit a
month earlier thanks to sold export gains, a customs office report showed
Thursday.
According to the report by the Korea Customs Service, South
Korea's trade surplus amounted to $1.5 billion last month, compared with a
shortfall of $2.2 billion in January.
The monthly figure was smaller
than a surplus of $2.2 billion projected by the Ministry of Knowledge Economy
for February earlier this month.
Exports soared 20.6 percent on-year
to $46.4 billion last month, while imports grew 23.3 percent to $44.9
billion.
Outbound shipments were fueled by autos, refined petroleum
products and machinery with demand from advanced industrialized economies
posting double digit gains.
The rise in imports was caused mainly by
steep spikes in global crude oil, coal and gas prices the report showed.
Source Text