Invest KOREA

According to Yonhap News,

(SEJONG = Yonhap News) South Korea logged a trade surplus for the 21st straight month in October thanks to relatively robust exports growth, customs data showed Thursday.

South Korea's exports came to US$50.5 billion last month, up 7.2 percent from the same month a year earlier, while imports grew 5.2 percent on-year to $45.6 billion, according to the data provided by the Korea Customs Service.

As a result, Korea logged $4.9 billion in trade surplus last month, marking the 21st month of a surplus in a row since February last year. During the January-October period, its cumulative trade surplus rose to $35.7 billion.

Exports of mobile communications equipment, electronic home appliances and passenger vehicles jumped 30.3 percent, 22.4 percent and 19.8 percent, respectively, on-year in October. Semiconductors and ships also saw their overseas shipments increase 13.5 percent and 7.4 percent.

Exports bound for the United States and the European Union rose 23.1 percent and 15.9 percent, respectively, over the same period. But shipments to Japan and the Middle East declined 8.9 percent and 6.2 percent, according to the data.

kokobj@yna.co.kr

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