Xinhua
15 Jan 2021, 08:14 GMT+10
SEOUL, Jan. 15 (Xinhua) -- South Korea posted a trade surplus for eight straight months through December due to a double-digit export increase, customs office data showed Friday.
Trade surplus amounted to 6.8 billion U.S. dollars in December, up from a surplus of 5.9 billion dollars in November, according to Korea Customs Service. The trade balance stayed in black since May.
Export, which accounts for about half of the South Korean economy, advanced 12.6 percent over the year to 51.4 billion dollars in December, while import added 2.2 percent to 44.6 billion dollars.
Shipment for semiconductors, auto parts and telecommunication devices, such as smartphone, picked up in double figures, but export for cars and consumer electronics slipped in single digits.
Export to China, South Korea's biggest trading partner, rose 3.3 percent in December from a year earlier, with those to the United States, the European Union and Vietnam growing in double digits.
Raw material import declined 11.3 percent last month, but those for consumer and capital goods gained 7.8 percent and 19.8 percent respectively.
Get a daily dose of Asia Pacific Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Asia Pacific Star.
More InformationBEIJING, China: China has announced new tariffs on Canadian agricultural and food products in retaliation for Canada's recent duties...
MANILA, Philippines - In a dramatic move, the International Criminal Court on Tuesday arrested the former president of the Philippines,...
BENTONVILLE, Arkansas: Walmart is pressuring some Chinese suppliers to cut prices in response to President Donald Trump's imposed U.S....
NEW DELHI, India: The United States is pressing India to lower tariffs and increase defense purchases to secure a stronger bilateral...
BEIJING, China: China has set an economic growth target of around five percent for 2025, signaling efforts to stabilize the economy...
Images of security forces smearing themselves in colored powder have gone viral as South Asia celebrates the Hindu festival of color...
BERLIN, Germany: Volkswagen is set to cut 1,600 jobs at its Cariad software division by the end of the year, affecting nearly 30 percent...
The principal terminal, Terminal 1, at Israel's largest airport will reopen at the end of this month, having largely been closed since...
NEW YORK, New York - The knee-jerk introduction of trade tariffs by President Donald Trump continues to rattle markets with all the...
FRANKFURT, Germany: Ford announced this week that it will inject up to $4.8 billion into its struggling German unit to stabilize its...
SEATTLE, Washington: Boeing has revamped its employee incentive plan, tying annual bonuses for more than 100,000 workers to overall...
WINNIPEG, Manitoba: Farmers in the U.S. and Canada are bracing for soaring fertilizer prices as trade tensions escalate between the...