In April, exports rose a robust 25.1% over the same month the previous year to reach USD 49.2 billion, according to data released by the Korea Customs Services (KCS). The reading came in below the even stronger 28.8% March print and confirmed the strength of the external sector, with exports expanding at a double-digit rate for the 18th consecutive month. According to the Ministry of Knowledge Economy (MKE), the April result reflected a strong increase in exports of petroleum products, which surged 79.8% over the previous year. In addition, ship exports grew 56.1%. Imports increased 23.9% year-on-year in April, down from March's 27.6% annual increase, reaching USD 44.0 billion. As exports exceeded imports, the trade surplus expanded from USD 2.7 billion in March to USD 5.1 billion in April, which marks the largest surplus since October 2010.
Korea Trade Balance
Trade surplus reaches 7-month high in April
May 15, 2011
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Korea Economic News
October 13, 2016
At its 13 October monetary policy meeting, the Bank of Korea (BoK) announced that it will hold the base rate constant at a record low of 1.25%, which was largely in line with market expectations.
October 5, 2016
In September, consumer prices rose 0.6% over the previous month, which contrasted the 0.1% decrease in August and overshot the 0.2% increase the markets had expected.
October 3, 2016
Korea’s Customs Services reported that exports totaled USD 40.9 billion in September, which represented a 5.9% contraction over the USD 43.4 billion recorded in the same month last year.
September 30, 2016
The forward-looking business confidence indicator (BSI) for the manufacturing sector produced by the Bank of Korea (BoK) rose from 74 points in September to 75 points in October.
September 30, 2016
In August, industrial production accelerated and expanded 2.3% year-on-year, which was up from both the 1.6% increase registered in July and the 1.6% rise the markets had expected.