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South Korea's exports to the United States rose 11.3 percent from a year earlier
in the first two months after their landmark free trade agreement came into
force, government data showed Sunday.
Exports to the U.S. reached
US$11.18 billion from March 15, when the pact was implemented, to May 14, while
imports from the U.S. rose 2 percent to $7.73 billion for the two-month period,
according to the data by the Korea Customs Service.
During the same
period, South Korea's total exports fell 4 percent from a year ago to $93.4
billion, hit by falling demand amid a deepening debt crisis in Europe.
South Korean cars, auto parts, petrochemicals and textile products primarily
benefited from the trade pact with the U.S., the data showed.
The
trade deal between South Korea and the U.S., first signed in 2007 and modified
in 2010, took effect on March 15. It is the biggest U.S. trade deal since the
North America Free Trade Agreement went into force in 1994.