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Korea's Trade Surplus Hits 5-Month High in Nov.: Customs Data
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South Korea's trade surplus soared to a five-month high in November, driven mostly by increased shipments of oil products, semiconductors and mobile communications equipment, the customs office said Sunday.

According to a report by the Korea Customs Service, the country's trade surplus surged 46 percent on-year to US$4.38 billion. The amount is the biggest since $5.1 billion in June.

Exports rose 3.8 percent from a year earlier to $47.8 billion and imports gained 0.9 percent to $43.4 billion, marking the second straight month that exports and imports have expanded simultaneously, the report showed.

Shipments of oil products jumped 10.6 percent, marking a third consecutive month of double-digit growth. Mobile equipment and semiconductor sales rose 14.4 percent and 12.6 percent, respectively.

Automobile sales, also rebounded 1.4 percent, stemming a decline that started in June.

Exports of ships, however, plunged 47.8 percent over the period, trimming the overall overseas sales growth last month, according to the report.

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Source: Yonhap News (Dec. 16, 2012)

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