S. Korea posts trade surplus for 87 months through April

Source: Xinhua| 2019-05-15 14:01:05|Editor: ZX
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SEOUL, May 15 (Xinhua) -- South Korea posted trade surplus for 87 months through April despite the fall in export, customs office data showed Wednesday.

Trade surplus amounted to 4 billion U.S. dollars in April, staying in the black since February 2012, according to the Korea Customs Service.

Export, which accounts for about half of the export-driven economy, fell 2 percent from a year earlier to 48.8 billion U.S. dollars in April, while import grew 2.6 percent to 44.8 billion U.S. dollars.

The export reduction was slower than an 8.3 percent decline in the previous month.

During the January-April period, export shrank 6.9 percent to 181.5 billion U.S. dollars compared with the same period of last year. Import slipped 4.5 percent to 168.3 billion U.S. dollars, sending the trade surplus to 13.2 billion U.S. dollars.

In April alone, semiconductor shipment tumbled 12.7 percent on the downturn of business cycle in the global chip industry. Export for oil products and auto parts reduced last month.

Ship export surged 56.7 percent last month, with shipment of telecommunication devices such as smartphone rising 46.5 percent. Car export gained 6 percent, and electronic products product advanced 24.7 percent in the month.

Export to China, South Korea's biggest trading partner, shed 4.5 percent in April from a year earlier, with shipments to the European Union, Japan and the Middle East skidding in the month.

Those to the United States and Vietnam added 3.9 percent and 12.7 percent respectively.