According to the data released by the Export and Import Division of South Korea's Ministry of Knowledge Economy, the country's trade balance indicated a $3.36 billion surplus in March this year, remaining in black for the 14th consecutive month. The country's export value in March rose by 0.4 percent year on year to $47.5 billion, mainly influenced by the positive growth in wireless communications device and petrochemical exports, while South Korea's overall import value declined two percent from a year earlier to $44.1 billion.
South Korea's export value for automobiles in March fell by 10.4 percent year on year to $2.2 billion. According to the ministry report, exports of ships and steel continued to decline in March. South Korea's export value for ships in the month in question declined by 12.5 percent to $3.4 billion, while the country's basic steel export value fell 13.2 percent to $2.7 billion, both compared to March 2012. In addition, South Korea's general machinery exports in March amounted to $4.2 billion, falling by 1.2 percent year on year.
South Korea's exports to China and the ASEAN region posted modest year-on-year growth in the given month.