S Korea posts trade surplus for 61 months to February

 South Korea’s economy posted a trade surplus for 61 months through February due to robust export growth, customs data showed yesterday, reports Xinhua.
Revised figure for the February trade surplus reached 7.1 billion dollars, staying in the black since February 2012, according to the Korea Customs Service.
The longest surplus came as exports, which account for about half of the export-driven economy, jumped 20.2 per cent over the year to 43.2 billion dollars. Imports advanced 23.9 per cent to 36.1 billion dollars.
Semiconductor exports surged 56.7 per cent in February from a year ago, leading last month’s trade surplus. Those for automobiles and oil products jumped 12.5 per cent and 782.6 per cent each, but ship exports tumbled 30.9 per cent amid the ongoing restructuring in the shipbuilding industry.
Shipments of telecommunication devices, including smartphones, declined 26.9 per cent amid lack of new models and the negative effect from Samsung Electronics’ discontinuation of its flagship Galaxy Note 7 smartphone.

S Korea posts trade surplus for 61 months to February

South Koreas economy posted a trade surplus for 61 months through February due to robust export growth, customs data showed yesterday, reports Xinhua. Revised figure for the February trade surplus reached 7.1 billion dollars, staying in the black since February 2012, according to the Korea Customs Service. The longest surplus came as exports, which account for about half of the export-driven economy, jumped 20.2 per cent over the year to 43.2 billion dollars. Imports advanced 23.9 per cent to 36.1 billion dollars. Semiconductor exports surged 56.7 per cent in February from a year ago, leading last months trade surplus. Those for automobiles and oil products jumped 12.5 per cent and 782.6 per cent each, but ship exports tumbled 30.9 per cent amid the ongoing restructuring in the shipbuilding industry. Shipments of telecommunication devices, including smartphones, declined 26.9 per cent amid lack of new models and the negative effect from Samsung Electronics discontinuation of its flagship Galaxy Note 7 smartphone.