South Korea's steel export value up 9.6 percent in Jan

According to the data released by the Export and Import Division of South Korea's Ministry of Knowledge Economy (MOTIE), the country's trade balance indicated a $735 million surplus in January this year.
 
In the given month, South Korea's basic steel export value increased by 9.6 percent, while the value of the country's ship exports saw a decrease of 1.9 percent, both compared to January 2013. Meanwhile, the value of South Korea's automobile exports in January this year decreased by 1.1 percent and the value of general machinery exports decreased by 5.5 percent, both on year-on-year basis.
 
According to the ministry's report, in January of the current year the value of South Korea's export shipments to Japan decreased by 19.8 percent and the value of exports to Latin America and the US decreased by 13.6 percent and two percent respectively, all on year-on-year basis. In January this year, the country's exports to the EU, the ASEAN region and China increased in value by 24.7 percent, 9.9 percent and 0.8 percent, respectively.
 
In January this year, the value of South Korea's exports to Turkey amounted to $539 million.