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SEOUL: South Korea's trade surplus reached a record US$7.4 billion in June after exports fell at a slower-than-expected pace, government figures have shown.
Exports were worth US$33 billion last month, falling 11.3 per cent year-on-year, while imports declined 32.3 per cent to US$25.6 billion, the Ministry of Knowledge Economy said in a report.
The previous record monthly surplus was US$5.7 billion in April.
The ministry said exports, the economy's leading driver, recorded an eighth straight month of year-on-year negative growth in June.
But the pace of the decline had improved markedly from the 28.5 per cent contraction reported for May.
For the first half of this year, exports declined 22.3 per cent year-on-year to US$166.1 billion, with imports falling 34.6 per cent for a record surplus of US$21.6 billion.
The ministry said Asia's fourth largest economy could have a trade surplus of more than US$30 billion for the whole of the year.
Exports this year will likely fall 14 per cent to US$361.1 billion and imports by 24 per cent to US$330.1 billion, it said.
- AFP/yb
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