S.Korea posts trade surplus for 75 months to April

SEOUL, May 15 (Xinhua) -- South Korea's economy posted trade surplus for 75 straight months through April despite a fall in exports, which account for about half of the export-driven economy, customs data showed Tuesday.

Revised data for trade surplus was 6.6 billion U.S. dollars in April, staying in the black since February 2012, according to Korea Customs Service.

Exports fell 1.5 percent over the year to 50.1 billion dollars in April, but it was mainly attributable to the so-called high base effect in which last year's figure was exceptionally high.

Imports advanced 14.5 percent to 43.5 billion dollars in the cited period.

Semiconductor export surged 36.2 percent, continuing to lead the overall export number. Outbound shipment for oil products soared 53.9 percent, but auto shipment declined 8.8 percent.

Ship export tumbled 75.7 percent, while export of telecommunication devices such as smartphones declined 39.3 percent as local manufacturers increased production in overseas factories.

Exports to China, Japan and the Middle East posted a double-digit increase, but those to the United States, Vietnam and the European Union (EU) shrank last month.

[ Editor: Xueying ]
 

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