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South Korea posts 5.7 billion of trade surplus in May

Staff Writer | June 15, 2017
South Korea posted a trade surplus at $5.7 billion in May thanks to exports growth, customs data showed Thursday.
South Korea exports volume
Asia   Exports to China grew last month
Revised figure for trade surplus was $5.7 billion as exports, which account for about half of the economy, logged a double-digit growth for five straight months, according to Korea Customs Service.

Exports increased 13.3 percent from a year earlier to $45 billion in May, while imports gained 19.1 percent to $39.3 billion.

Semiconductor exports surged 56.2 percent, leading the exports recovery for the first five months of this year.

Auto exports added 4.2 percent, with oil product shipments jumping 30.2 percent on the back of higher oil prices.

Shipments of auto parts and telecommunication devices, including smartphones, logged a double-digit decline.

Exports to China, the European Union, Vietnam and Japan grew last month, but those to the United States and the Middle East countries declined 1.8 percent and 2.9 percent respectively.