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S. Korea posts 62nd straight month of trade surplus in March

All News 09:00 April 15, 2017

SEJONG, April 15 (Yonhap) -- South Korea posted a trade surplus for 62 straight months in March on a steady recovery in exports, customs data showed Saturday.

The country's trade surplus came to US$6.3 billion last month, down from a surplus of $9.7 billion tallied a month earlier, according to the data from the Korea Customs Service.

It enjoyed $6.57 billion in trade surplus with Southeast Asian countries, followed by China with a surplus of $2.86 billion.

Trade with the United States recorded a surplus of $1.8 billion, down from $2.75 billion tallied a year ago, amid the Seoul government's efforts to reduce its surplus with the world's largest economy.

South Korea's trade surplus with the U.S. rose to $23.25 billion in 2016, more than doubling from $11.64 billion in 2011, a year before the Seoul-Washington free trade pact took effect.

But trade with Middle Eastern nations and Japan recorded a deficit of $3.87 billion and $2.73 billion, respectively, the data showed.

Exports rose a revised 13.6 percent on-year to $48.8 billion in March, extending its winning streak to four months in a row, while imports soared 27.7 percent on-year to $42.6 billion.

A rise in overseas demand for Korean-made semiconductors and vehicles led the brisk exports.

brk@yna.co.kr
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