RoK enjoys trade surplus for 64 consecutive months
The Republic of Korea had enjoyed trade surplus for a 64-month streak in May spurred by strong exports on the global demand upturn, the country’s Customs Service announced on June 15.
The Republic of Korea had enjoyed trade surplus for a 64-month streak in May (Photo: EPA)
Seoul (VNA) - The Republic of Korea had enjoyed trade surplus for a64-month streak in May spurred by strong exports on the global demand upturn,the country’s Customs Service announced on June 15.
However, the country’s trade surplus plunged substantially in May to 5.68billion USD from 12.9 billion USD recorded in April.
The East Asian economic power logged 6.34 billion USD in trade surplus withSoutheast Asian countries, including 2.91 billion USD with Vietnam. Meanwhile,it saw 2.59 billion USD in trade surplus with China, its largest trade partner.
The country’s trade surplus with the US dwindled more than 50 percent to 864million USD from 1.78 billion USD tallied a year ago amid the RoK Government’sefforts to reduce its surplus with the world’s largest economy.
Data also showed that RoK’s trade with Middle East nations and Japanexperienced a deficit of 3.77 billion USD and 2.17 billion USD, respectively.
The country’s exports have been on sharp rise since November last year thanksto the brisk overseas demand for RoK semiconductors and vehicles. In May,exports picked up 13.3 percent year-on-year to 45 billion USD while importsrose 19.1 percent year-on-year to 39.3 billion USD.-VNA
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The Republic of Korea had enjoyed trade surplus for a 64-month streak in May (Photo: EPA) 
