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Korea logs trade surplus for 34 straight months

Dec. 15, 2014 - 21:07 By Korea Herald
South Korea posted a trade surplus for a 34th straight month in November despite a fall in overseas shipments, customs data showed Monday.

According to the data by the Korea Customs Service, the country’s trade surplus came to $5.5 billion last month, down from the all-time high of $7.2 billion registered in October.

Exports declined 2.1 percent on-year to $46.9 billion, while imports shrank 4 percent to $41.4 billion.

This marked the 34th consecutive month of surplus since February 2012.

Overseas sales of semiconductors rose 15.7 percent but those of oil products, passenger vehicles and ships declined 22.6 percent, 5.2 percent and 3.6 percent, the data showed.

By country, exports to China, the European Union and Japan fell 3.3 percent, 6.8 percent and 25.3 percent, respectively, while exports to the United States and the Middle East gained 20.8 percent and 13.4 percent. (Yonhap)