According to the data released by the Export and Import Division of South Korea's Ministry of Knowledge Economy, in October this year the country's trade surplus reached $4.3 billion. South Korea's trade surplus was $1.6 billion in September this year.
The country's total export value in October rose 9.3 percent year on year, reaching $47.4 billion, while its steel exports were valued at $3.2 billion, increasing 17.9 percent compared to the same month last year.
South Korea's export value of ships in the given period fell by 6.4 percent year on year to $4.6 billion, while its automobile exports reached a value of $4 billion, climbing by 18.9 percent year on year. Furthermore, in October South Korea's general machinery exports came to $4 billion, with an increase of 20.7 percent compared to October 2010.
In the given month, exports to emerging economies such as China and ASEAN countries accounted for 75.1 percent of all exports, while exports to advanced countries posted a slight decrease compared to the same period last year. Exports of most major export items to ASEAN countries increased in October this year.
Meanwhile, in October, South Korea's imports rose 16.4 percent year on year, reaching $43.1 billion. Higher oil prices and the resulting increase in inbound shipments of crude oil, gas and coal pushed raw material imports up 15.7 percent year on year.