According to the data released by the Export and Import Division of South Korea's Ministry of Knowledge Economy, in November this year the country's trade surplus was $3.9 billion. South Korea's trade surplus was $4.3 billion in October this year.
The country's total export value in November rose 13.8 percent year on year, reaching $47 billion, while its steel exports were valued at $3.2 billion, increasing 21.7 percent compared to the same month last year.
South Korea's export value of ships in the given period rose by seven percent year on year to $3.7 billion, while its automobile exports reached a value of $4.4 billion, climbing by 30.4 percent year on year. Furthermore, in November South Korea's general machinery exports came to $3.9 billion, with an increase of 19.3 percent compared to November 2010.
In the given month, exports to emerging economies such as China and ASEAN countries continued to turn in solid performances, while exports to advanced countries (i.e., the European Union) posted a slight decrease compared to the same period last year.
Meanwhile, in November, South Korea's imports rose 11.3 percent year on year, reaching $43.1 billion. Inbound shipments of raw materials gained 7.5 percent year on year, on the back of significant imports of coal, petroleum products and crude oil.