Government of South Korea recorded a trade surplus of $ 3,79 billion dollars in October. The number is due to sharply declining imports rather than exports.
As for exports, South Korea recorded 8.3 percent fall to USD34,03 billion in the last month, while imports fell 16.3 percent to $ 30,23 billion.
As reported by the AFP, Sunday (1/11/2009), this surplus in October compared with a surplus in the previous month for $ 4,7 billion, marking nine consecutive months in the fall of government.
Exports, which is footing half the South Korean economy and the fourth largest in Asia, still weakened by a sluggish global economy.
In addition, outbound shipping fell in most export goods except semiconductors and display panels for TVs, mobile handsets, or computer that jumped 36.8 percent and 38.8 percent.
While exports to the U.S. market (the U.S.) and Europe continued to decline because of weak demand, while those to China, Southeast Asia and other developing economies obtained in the last month.
Imports are still down sharply, but the decline was caused by crude oil pembilan South Korea increased by 52.4 million barrels in October, up from 48.7 million barrels a month ago.
The government estimates that exports and imports will rebound in November, and the annual trade surplus expected to exceed the record $ 40 billion for this year.
For information, the trade surplus has reached $ 34,58 billion in 10 months to October period, this figure exceeds the previous record reached $ 31,90 billion in the period from January to October 1998.
