▲ The appearance of Gwangyang Port in Jeollanam-do
Korea’s monthly trade balance has succeeded in turning into a surplus for the first time in 16 months.
Exports declined for the ninth month, but the rate of decline in exports fell to the lowest level of the year.
On the 1st, the Ministry of Trade, Industry and Energy announced the import and export trend for June.
June’s trade balance was a surplus of $1.13 billion.
It is the first time in 16 months since February last year that the monthly trade balance has been in surplus.
The trade balance was in deficit for 15 consecutive months, the longest consecutive trade deficit in 27 years, after a trade deficit of 29 consecutive months from January 1995 to May 1997.
Exports in June were 54.24 billion dollars, down 6.0% from the same month last year.
Monthly exports have declined year-on-year for nine consecutive months since last October.
The rate of decline in exports in June fell to the lowest level of the year.
June exports of semiconductors, the single largest export item, decreased by 28% from the same month last year, and the growth rate remained in the negative range for the 11th consecutive month, but the export value was $8.9 billion, the largest this year.
Imports in June were $53.11 billion, down 11.7% from the same month last year.
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2023-07-01 00:19:14
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