In December, exports expanded 10.8% over the same month the previous year to USD 48.9 billion, according to data released by the Korea Customs Services (KCS). The reading came in below the 11.6% growth recorded in November. According to the Ministry of Knowledge Economy (MKE), exports of petroleum products, machinery and automobiles registered the strongest gains over the same month the year before. However, semiconductors and LCD devices contracted over the previous year. In 2011 total exports expanded 19.3%, which was below the strong 28.3% increase the year before. Imports increased 13.6% year-on-year in December, up from November's 11.2% annual increase, reaching USD 45.5 billion. Despite the pick-up in imports, the trade surplus widened from USD 3.0 billion in November to USD 3.4 billion in December.
Korea Trade Balance
Export growth remains strong in December
January 16, 2012
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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.