South Korea’s trade surplus reaches $1.93 billion in February
According to the statement made by Ministry of Commerce, Industry and Energy (MOCIE), South Korea's trade surplus in February decreased to $1.93 billion because of rising raw material prices. In February, country's exports amounted to $19.3 billion and imports reached $17.4 billion. Exports soared by 45% in February compared to the same period of last year while imports increased by 25.5% due to rising international prices of raw materials. The Ministry stated that the trade figures are in relation with the recovery of the world economy and domestic companies' efforts to enter into overseas markets due to weak local consumption.