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S. Korea's construction trade surplus plunges as orders dip

All News 10:36 December 09, 2017

SEOUL, Dec. 9 (Yonhap) -- South Korea's trade surplus for construction plunged in October as new orders from the Middle East dipped due to a decline in oil prices, data showed Saturday.

South Korea reported a trade surplus of US$428 million in the construction sector in October, down 32.9 percent from a year ago, according to the data from the Bank of Korea.

This is the smallest monthly figure since February 2007, according to the data.

South Korea's positive balance of trade for construction began falling in late 2014, when oil prices started sinking.

The value of orders for foreign construction projects stood at $22.6 billion in the first 11 months of this year, down 3 percent from a year ago.

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