Korea: Exports contract in August
September 15, 2014
In August, the value of exports totaled USD 46.2 billion, according to the Korea Customs Services. The reading marked a 0.2% year-on-year decrease and contrasted the 5.2% expansion registered in July. In addition, August’s print was slightly below the 0.1% decrease the markets had expected.
Meanwhile, imports increased 3.1% annually in August, which pushed the total value to USD 42.9 billion. The print was softer than the 5.8% expansion tallied in July. The trade surplus came in at USD 3.4 billion in August, which was below the USD 4.7 billion surplus observed in the same month last year. In the 12 months up to August, the trade surplus reached USD 42.7 billion (July: USD 44.1 billion), which represented the lowest reading since November 2013.