In March, exports rose a robust 28.9% over the same month the previous year to reach USD 48.1 billion, according to data released by the Korea Customs Services (KCS). The reading came in above the 16.9% February print and confirmed the strength of the external sector, with exports expanding at a double-digit rate for the 17th consecutive month. According to the Ministry of Knowledge Economy (MKE), the March result reflected a strong increase in exports of petroleum products, which surged 87.8% over the previous year. In addition, ship exports jumped 70.1%. Imports increased 27.3% year-on-year in March, up from February's 16.6% annual increase, reaching USD 45.3 billion. As exports outpaced imports, the trade surplus expanded from USD 2.4 billion in February to USD 2.8 billion in March.
Korea Trade Balance
Trade surplus widens in March
April 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
Activity in Korea’s manufacturing sector deteriorated significantly in Q3.
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.