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S.Korea posts trade surplus for 6 months to October

Xinhua News,SEOUL
2020-11-16 10:41

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SEOUL, Nov. 16 (Xinhua) -- South Korea posted trade surplus for six straight months through October due to faster fall in import than export, customs office data showed Monday.

Trade surplus amounted to 5.8 billion U.S. dollars in October, staying in the black for six months since June, according to the Korea Customs Service.

Export reduced 3.8 percent over the year to 44.9 billion dollars in October, while import shrank 5.6 percent to 39.1 billion dollars.

Semiconductor export gained 10.2 percent in the month, with those for automobiles and telecommunication devices, such as smartphone, growing 7.1 percent and 5.1 percent respectively.

Oil product shipment plunged 49.8 percent, with those for ships and consumer electronics sliding in double figures.

Export to the United States, the European Union (EU) and Vietnam slipped in single digits, while shipment to Japan and the Middle East logged a double-digit reduction last month.

Shipment to China, South Korea's biggest trading partner, diminished 5.8 percent in October from a year ago.
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