South Korea logged a trade surplus for the 12th straight month in January but the surplus dropped to the lowest level ever during the same period as exporters faced tough competition in global markets, customs data showed Thursday.

According to the customs clearance trade figures provided by the Korea Customs Service, South Korea’s exports rose 10.9 percent on-year in January to $45.68 billion, while imports grew 3.9 percent to $45.21 billion.

As a result, South Korea posted a trade surplus of $476 million last month, keeping its trade account in the black for 12 straight months.

However, the amount is much smaller than the $1.8 billion for the previous month and it also marks the smallest surplus recorded over the past 12 months.

Exports of oil products, chemical goods and semiconductors jumped 10.8 percent, 18 percent and 9 percent, respectively. Sales of automobiles and mobile devices also surged 23.6 percent and 14.6 percent.

By region, exports bound for China and the United States grew 16.6 percent and 21.3 percent over the same period, while those for Japan also expanded 6.9 percent, the data showed.

South Korea, however, posted a contraction in its exports to European countries due to sluggish shipments of auto parts, ships and semiconductors. Exports to the region fell 3.2 percent, the third straight month of on-year shrinkages, the data showed. (Yonhap News)