south korea posts 54th consecutive trade surplus in july
Last Updated : GMT 09:07:40
Egypt Today, egypt today
Egypt Today, egypt today
Last Updated : GMT 09:07:40
Egypt Today, egypt today

South Korea Posts 54th Consecutive Trade Surplus in July

Egypt Today, egypt today

Egypt Today, egypt today South Korea Posts 54th Consecutive Trade Surplus in July

Shipments of South Korean-made vessels
Seoul - QNA

South Korea posted a 54th consecutive trade surplus in July as a sharp decline in imports outpaced a fall in exports amid contracted demand at home and abroad, customs data showed Tuesday.

    The country's trade surplus came to US$7.6 billion last month, plunging from a record $11.4 billion in the previous month, according to the data from the Korea Customs Service.

    The figure also marked a 7.8% on-year rise from $7.05 billion tallied in the same month a year earlier, extending its bullish streak to 54 straight months since February 2012. The consecutive monthly trade surplus came as a protracted economic slowdown dragged down imports at a faster pace than exports. 

    Exports fell 10.3% on-year to $41 billion last month, while imports retreated 13.6% to $33.4 billion. Due mainly to waning demand from emerging countries and a slowdown in China, the country's exports have fallen every single month since the start of 2015. 

    They touched a 19.1% on-year plunge in January this year, the largest decline since August 2009, but have continuously slowed down to mark a 2.7% drop in June on the back of rising oil prices.

    But they widened again to 10.3% in July due largely to decreased working days and a fall in vessel shipments. At the same time, the country's inbound shipments also saw contractions for 22 straight months. 

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south korea posts 54th consecutive trade surplus in july south korea posts 54th consecutive trade surplus in july



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