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S Korea's trade surplus hits record high in June
Last Updated(Beijing Time):2009-07-13 13:47
South Korea posted a record-high trade surplus in June thanks to imports falling at a faster rate than exports, a government report said Monday.

According to the report by the Korea Customs Service, South Korea topped a trade surplus of 7.27 billion U.S. dollars last month, the highest since related data began being compiled in 1952.

South Korea has been marking trade surpluses for five consecutive months since February, with the June figure rising from 5.06 billion U.S. dollars in May, the report said.

The nation's cumulative surplus for the first half of 2009 amounted to 28 billion U.S. dollars, it added.

The June surplus was attributed to imports declining faster than exports, with inbound shipments declining 32.9 percent on year to 25.36 billion U.S. dollars while exports falling 12.4 percent to 32.63 billion U.S. dollars.

The increase in the surplus came amid local firms increasing exports to meet the performance targets as the end of the first half approaching, local analysts were quoted as saying.

Source:Xinhuanet 
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