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S. Korea's exports to U.S. rise 11.3 pct after FTA

All Headlines 12:00 May 20, 2012

SEOUL, May 20 (Yonhap) -- 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.
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