The South Korean government has released the figures for the country's exports in July,... and it was the fifth straight month they surpassed 50 billion U.S. dollars.
The data show a recovery from the dismal figures recorded in June,... so this could be a sign of strength in the local economy.
Kim Ji-yeon reports.
Korea's exports surpassed the 50-billion U.S. dollar mark in July... recovering from a dip recorded last month.
The Ministry of Trade, Industry and Energy said Wednesday the country's exports recorded nearly 52-billion U.S. dollars in July... an increase of more than 6-percent from the same period last year.
This is a big improvement compared to June... when exports dipped by nearly zero-point-two percent on-year.
Ten of the 13 main export items, saw increases... including petroleum and petrochemical goods, steel, semiconductors, machinery and computers.
Semiconductor exports in particular increased for the third consecutive month in July surpassing 10-billion dollars,... the fourth highest monthly record ever.
Exports of computers also increased for the 16th straight month in July.
Meanwhile, exports in shipbuilding dropped by a staggering 73-point-4-percent followed by home appliances which dropped by nearly 16-percent on-year last month.
Auto exports dipped for the sixth straight month in July, falling by 13-and-a-half percent from July last year... as shipments to Korea's biggest auto export market the U.S. slumped following U.S. import restrictions.
Exports to China and South American countries increased the most, growing by around 27-percent and 23-percent, respectively.
Exports to the ASEAN region and India dipped due to increased local competition.
Imports also increased by more than 16-percent in July on-year to record nearly 45-billion dollars.
The trade surplus for July was more than seven-billion dollars, it was the 78th straight month it has been in surplus.
The ministry cites favorable economic conditions in the global manufacturing sector, increases in gross domestic product among major economies and increases in unit prices of main exporting goods for the strong export figures.
Kim Ji-yeon, Arirang News.
