South Korea’s exports rise 17.2 percent in September
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According to the data released by the Export and Import Division of South Korea's Ministry of Knowledge Economy, in September this year the country recorded a trade surplus of $5.01 billion.
In September, despite growing concerns over the global economic slowdown, South Korea's robust exports in most sectors drove the export total up to $39.75 billion, increasing by 17.2 percent year on year.
In the month in question, South Korea's steel exports rose by 24.4 percent to $2.45 billion, its automobile exports surged by four percent to $2.79 billion, its household appliance exports increased by 11.9 percent to $1.15 billion, while the country's ship exports increased by 35.4 percent to $4.74 billion, all compared to September 2009.
Among the major export partners of South Korea, in September, the country's exports to China increased by 30.8 percent, exports to the US rose by 48.2 percent, to Japan by 38.7 percent, to ASEAN countries by 43.2 percent, to the European Union by 47.7 percent, to Latin America by 124.4 percent, to the Middle East by 45.5 percent, while an increase of 36 percent was recorded in its exports to Oceania, all compared to the same month last year.
Meanwhile, in September, South Korea's imports rose 16.7 percent year on year, reaching $34.74 billion. Inbound shipments of raw materials went up by 35.8 percent while imports of capital and consumer goods increased by 26.4 percent and 49.1 percent year on year, respectively.