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S. Korea's Trade Surplus in Auto Parts Drops 7.5%

Written: 2017-07-02 13:38:39Updated: 2017-07-03 09:15:12

S. Korea's Trade Surplus in Auto Parts Drops 7.5%






South Korea's trade surplus of auto parts decreased seven-point-five percent in the first five months of the year from a year ago.

According to the data compiled by the Korea International Trade Association on Saturday, the country’s exports of auto parts decreased four-point-two percent in the January-May period to nine-point-nine billion U.S. dollars, while its imports jumped seven-point-six percent to reach two-point-four billion dollars.

Accordingly, the country’s trade surplus of auto parts fell to seven-point-five billion U.S. dollars during the cited period, down seven-and-a-half percent on-year.

The trade surplus has been decreasing every year: 21-point-seven billion dollars in 2015 and 20 billion dollars in 2016 since it peaked at 22-point-six billion dollars in 2014.

This year’s figure is expected to drop below 20 billion dollars for the first time in six years.

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