Arab Today, arab today korea posts 206bn trade surplus
Last Updated : GMT 23:10:16
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Korea posts $2.06bn trade surplus

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Arab Today, arab today Korea posts $2.06bn trade surplus

Seoul - UPI

South Korea posted a trade surplus for the 13th straight month, earning $2.06 billion in February, the government said Friday. February exports were down 8.6 percent to $42.32 billion year-on-year but imports for the month fell by a wider margin of 10.7 percent to $40.26 billion, leaving a surplus of $2.06 billion. The total trade volume for February was affected by fewer working days and the Lunar New Year's Day holiday, Yonhap reported. "Total exports fell due to the holiday season, which cut the working days down, but it led to an increase in average daily exports, growing 2.5 percent on-year," the economic ministry said. Export-dependent South Korea remains concerned about the declining Japanese yen because that would make exports more expensive in markets where both countries compete, but the ministry said the growth in outbound shipments has helped South Korea's trade balance stay sound despite currency concerns. "For the first two months of this year, exports increased by 0.6 percent on-year with imports falling at a faster pace," the ministry said. "It's not bad considering the yen depreciation remains to be a negative factor."

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