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Biz News Korea(Eng)
S. Korea’s Aug exports up 2.6 percent, ending 19-straight-month losing streak
- Collected
- 2016.09.02
- Distributed
- 2016.09.05
- Source
- Go Direct
The nation’s export in August reached $40.1 billion, up 2.6 percent from the same month last year, according to preliminary trade data from the Ministry of Trade, Industry and Energy on Thursday.
The ministry said more working days and increased shipment in mainstay export items like semiconductors attributed to the much-awaited gain in exports in August. The pickup could have been bigger if not for strikes at automobile industrial sites.
By item, exports of computer, semiconductor, petrochemical, steel products, shipbuilding, auto parts, general machinery, and textiles rose. Shipment of semiconductor, flat panel displays, and petrochemical products was strongest for the year.
The accumulated exports for the first eight months slipped 8.7 percent on year to $322.7 billion.
The August year-on-year fall of 5.3 percent in exports to China was the mildest since September last year.
The nation’s imports in August also increased 0.1 percent from the same month last year to $34.8 billion, the first gain since September 2014. The nation posted a trade surplus for the record 55th consecutive month, registering $5.3 billion in August.
By Seo Dong-cheol
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]