S Korean trade deficit with Middle East

South Korea's trade deficit with the Middle East surged to $82.38 billion last year, from the $46.27 billion shortfall in 2010, according to the report released by South Korean central bank said on Friday. The increase resulted from a severe rise in crude oil prices. The Bank of Korea report also showed the country's current account surplus for the whole of 2011 standing at $26.51 billion, down from $29.39 billion reported for 2011. The central bank also said South Korea's exports to China reached an unprecedented $134.20 billion in 2011, up 14.9 % from $116.83 billion in the previous year. Outbound shipments were helped by strong demand for petroleum products and general machinery.