South Korea’s steel export value up four percent in April

Tuesday, 08 May 2012 10:43:54 (GMT+2)

According to the data released by the Export and Import Division of South Korea's Ministry of Knowledge Economy, in April this year the country's trade balance indicated a $2.2 billion surplus.

The country's total export value in April fell by 4.7 percent year on year to $46.3 billion due to the sluggish exports of major export items, the base effect from the previous year, and the lower number of working days in April 2012. South Korea's steel export value was $3 billion in the month in question, up four percent compared to April 2011.

South Korea's export value of ships in April fell by 21.7 percent year on year to $4.9 billion, while its general machinery exports reached a value of $4.3 billion, climbing by 8.5 percent year on year.

In the given month, exports to advanced nations such as the United States and Japan indicated a slight decline, while exports to emerging economies such as China and those in the ASEAN region increased.

Meanwhile, in April this year South Korea's imports fell 0.2 percent year on year, totaling $44.1 billion.