South Korea's exports fell more than expected in June and extended their downturn to a ninth straight month, while the trade balance swung to a surplus for the first time since early last year.
Overseas sales by Asia's fourth-largest economy fell 6.0% year-on-year to $54.24 billion in June, after a 15.2% drop in May, trade ministry data showed on Saturday., but still the second-smallest percentage loss for the ongoing downturn that began in October.
Imports fell 11.7% to $53.11 billion, compared with a loss of 14.0% in the previous month and an 11.0% decline expected by economists. As a result, the country posted a trade surplus of $1.13 billion in June, after 15 straight months of the export-reliant economy suffering trade deficits.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US B-52 bomber joins drills with South Korea amid North Korea tensionA U.S. B-52 strategic bomber took part in military exercises with South Korea on Friday, Seoul officials said, in the latest show of force amid tension over North Korea's failed launch of a spy satellite.
Read more »
South Korea picks critic of North's rights record as unification ministerSouth Korean President Yoon Suk Yeol on Thursday picked a conservative scholar and an outspoken critic of North Korea's human rights record as the country's new unification minister handling relations with Pyongyang in a cabinet reshuffle.
Read more »
South Korea shoppers buy up salt before Japan's Fukushima water dumpSouth Korean shoppers are snapping up sea salt and other items as worry grows about their safety with Japan due to dump more than 1 million metric tons of treated radioactive water from a wrecked nuclear power plant into the sea.
Read more »