Korea Exports Up 28.8% On Year In Nov 1-20 Period;Surplus At $960
Million
SEOUL -(Dow Jones)- South Korea's exports increased 28.8% in the first 20 days
of November from the same period a year earlier to $22.32 billion, marking the
first rise since October last year amid accelerating economic recovery, the
Korea Customs Service said Saturday.
In the Nov. 1-20 period, imports also recorded the smallest on-year fall of
2.1% since October last year to amount to $21.36 billion to yield a trade
surplus of $960 million.
The result matches the government's earlier forecast for both exports and
imports to return to growth for the first time in around a year in November.
The full-month trade outcome is still awaited with South Korean exporters
tending to push out their products outside the nation actively by the end of a
month.
The Ministry of Knowledge Economy is slated to release the full November data
at 0000 GMT on Dec. 1.
The latest data point to a further recovery in trade from last month of 31
days when exports fell a revised 8.5% on year to $34.0 billion and imports
declined 16.0% to $30.3 billion for a trade surplus of $3.63 billion.
In October 2008, exports were up 7.8% on year at $37.11 billion, while imports
were 10.3% higher at $36.1 billion to result in a surplus of $1.01 billion.
-By Kanga Kong, Dow Jones Newswires; 822-2198-2230; kanga.kong@dowjones.com
(END) Dow Jones Newswires
11-21-090359ET
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