South Korea Trade Surplus at Record High in October


In October of 2014, South Korean trade surplus increased sharply to USD 7.50 billion from USD 4.87 billion a year earlier, boosted by increased demand from the US and China. Enjoying the black balance since February of 2012, the country saw the latest trade surplus is the largest in history.

Year-on-year,  exports amounted to a USD 51.76 billion USD, a 2.5 percent increase, following a revised 6.9 percent gain in September. Overseas shipments to the United States jumped 25.0 percent from a year earlier, the fastest gain since March of 2012.  Exports to China, South Korea's largest sales destination, rose 3.7 percent. In contrast, demand from the European Union slumped with exports falling 8.6 percent.

Imports fell 3.0 percent to 44.26 billion USD, compared with a 8 percent increase in the previous month.

In September, South Korea recorded a revised USD 3.43 billion.

South Korea Trade Surplus at Record High in October


Rida l rida@tradingeconomics.com
11/1/2014 2:52:15 AM