Exports fall but Korea records trade surplus
South Korea’s export earnings fell at a slower rate than expected, allowing the Asian nation to record a record US$7.4 billion trade surplus in June, according to Korean Ministry of Knowledge Economy data.
While exports from South Korea fell 11.3 percent compared with the same period last year, imports plunged at a significantly greater rate, dropping 32.3 percent.
The June record follows closely on the previous record of a US$5.7 billion surplus in April this year and prompted the department to predict that they could have a trade surplus of more than US$30 billion for 2009.
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