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Balanced export growth in most sectors lead to trade surplus for 27th month Updated: 2014-05-02 06:46:51 KST

Balanced export growth in most sectors lead to trade surplus for 27th month

Korea posted a 27th consecutive monthly trade surplus in April and more importantly it resulted from an improvement in most export industries.
With the exception of LCD panels, key export items demonstrated strong growth -- even steel and petroleum products, which suffered from a slump last year.
Deliveries of high value-added vessels like drill ships, helped place the shipping industry at the top in terms of export growth.
Traditional export engines, such as semiconductors and handsets also saw an expansion thanks in part to the launch of Samsung's new Galaxy S-5 model.
The nation's trade surplus stood at 4-and-a-half billion dollars in April with outbound shipments surpassing the 50-billion dollar mark for the second time in history.
Last month's export figure of 50.3 billion U.S. dollars is up nine percent from the same month last year, while imports rose five percent to 45.9 billion dollars.
By region, exports to the U.S. rose 19 percent in April, another sign that the U.S. economy is recovering at a robust pace.
Outbound shipments to ASEAN countries and Japan also gained ground, but slowed to European nations and China.
Trade officials said, however, the large surplus in April was partly because exporters expedited shipping and customs clearances in April before the holidays in the first week of May.
Looking to the month ahead, slower growth is possible due to a fewer number of working days.
Song Ji-sun, Arirang News.
KOGL : Korea Open Government License
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