S.Korea posts trade surplus for 11 months in March

Xinhua
15 Apr 2021, 13:55 GMT+10

SEOUL, April 15 (Xinhua) -- South Korea posted trade surplus for 11 straight months in March owing to an export recovery, customs office data showed Thursday.

Trade surplus amounted to 4.1 billion U.S. dollars in March, according to Korea Customs Service. The trade balance stayed in black since May last year.

It was attributed to the continued recovery in export, which advanced 16.5 percent from a year earlier to 53.8 billion dollars in March. Import expanded 18.8 percent to 49.7 billion dollars.

The outbound shipment kept growing for the fifth consecutive month in March thanks to strong demand from the country's three major export destinations.

Export to China, South Korea's biggest trading partner, jumped 26 percent in March from a year earlier, with those to the United States and the European Union (EU) surging 9.2 percent and 36.7 percent respectively.

Shipment to Vietnam gained ground last month, but those to Japan and the Middle East declined 2.6 percent and 17.5 percent each.

By item, export for semiconductors, home appliances and telecommunication devices, such as smartphone, climbed in single digits as people preferred to be stuck at home amid the fear of the COVID-19 pandemic.

The shipment of cars and auto parts surged over 10 percent as the prolongation of tightened quarantine measures raised vehicle demand.

Oil product export increased 17.4 percent on expensive crude oil, but display panel shipment contracted in double figures last month.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Cambodian Times.

More Information

32 ℃

Partly Cloudy in Phnom-Penh

International

Section

South American countries seek to lay Internet cable to Asia

BRASILIA, Brazil: Brazil plans to join a Chile-led project to lay a fiber optic cable connecting South America and Asia, ...

Amazon court win defeats EU drive to tax corporations

BRUSSELS, Belgium: In a setback to competition chief Margrethe Vestager's campaign against preferential deals, Amazon won its fight against an ...

Masks can be removed for vaccinated Americans, says CDC

ATLANTA, Georgia: Americans will no longer need to wear face masks if they are fully vaccinated, the U.S. Centers for ...

Israeli police attack on Al-Aqsa Mosque blamed for violence outbreak

JERUSALEM - Twenty-seven days before the first rocket was fired from Gaza this week, a squad of Israeli police officers ...

Following cyber attack on pipeline, Biden acts to stop online hacking

WASHINGTON D.C.: President Joe Biden has issued an executive order to strengthen U.S. cybersecurity defenses.This follows recent high-profile incidents that ...

Online out-of-state purchases to now be taxed in Missouri

JEFFERSON CITY, Missouri: The legislature passed bills on May 12 to require out-of-state online stores to collect sales taxes on ...

Sports

Section