According to the data released by the Export and Import Division of South Korea's Ministry of Knowledge Economy, South Korea recorded a record high trade total of $533.4 billion in the first six months of the current year. In June this year, South Korea's exports climbed 14.5 percent year on year to $48.15 billion, though this was down by 1.2 percent compared to May.
In the half year in question, South Korea's exports value in petroleum products, ships and automobiles was up significantly with its steel exports. The country's steel export value increased by 31.4 percent to $17.14 billion, while its petroleum product exports rose by 71.8 percent, its ship exports increased by 29.5 percent, and the country's automobile exports improved by 25.1 percent, all compared to the same period of 2010.
In the given period, among the major export partners of South Korea, the country's exports to China increased by 16.6 percent, exports to the US rose by 20.1 percent, to Japan by 49.9 percent, to ASEAN countries by 38.1 percent, to the European Union by 19.3 percent, to Latin America by 17.8 percent, all compared to the same period last year.
Meanwhile, in June, South Korea's imports rose 27.4 percent year on year, reaching $44.9 billion. Inbound shipments of raw materials went up by 35 percent, while imports of crude oil and coal increased by 46.8 percent and 46.4 percent year on year, respectively.