- POSTED: 01 Jul 2014 14:24
South Korea's exports rose 2.5 per cent in June from a year ago on robust shipments of tech products and steel, official data showed Tuesday.
SEOUL: South Korea's exports rose 2.5 per cent in June from a year ago on robust shipments of tech products and steel, official data showed Tuesday.
Exports for June amounted to $47.8 billion, up 2.5 per cent from $46.7 billion, according to Seoul's trade ministry.
Imports rose 4.5 per cent to $42.5 billion during the same period, leaving a trade surplus of $5.3 billion.
It marks the 29th consecutive month that South Korea -- Asia's fourth-largest economy -- has posted a trade surplus.
Overseas shipments of memory chips and mobile gadgets made by firms like Samsung and LG rose on-year 11 per cent and 11.6 per cent, respectively.
Exports of ships and steel also climbed 10.1 per cent and 9.8 per cent.
"We expect steady growth of exports particularly in shipbuilding and car-making industries down the road, as recovery in advanced markets like the US and the EU increases global trade," the ministry said in a statement.
For 2013, the South's exports grew 2.1 per cent while imports fell 0.8 per cent, which produced a trade surplus of $44.09 billion.
The trade ministry has forecast a 6.4 per cent rise in exports this year.