In September, exports expanded 19.6% over the same month the previous year to USD 47.1 billion, according to data released by the Korea Customs Services (KCS). The reading came in below the 25.9% August print, but marked the 23rd consecutive month that exports expanded at a double-digit rate. According to the Ministry of Knowledge Economy (MKE), the September result reflected a strong increase in exports of petroleum products, which rose 56.8% over the same month last year, and general machinery, which expanded 40.2%. Imports increased 30.5% year-on-year in September, up from August's 28.9% annual increase, reaching USD 45.7 billion. Despite the pick-up in imports, the trade surplus widened from USD 0.5 billion in August to USD 1.4 billion in September.
Korea Trade Balance
Trade surplus widens in September
October 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.