South Korea has posted a budget surplus for a third consecutive year. 

The Ministry of Strategy and Finance on Friday said it collected 359-point-five trillion won worth tax revenue for the fiscal year 2017 compared to the government expenditure of 342-point-nine trillion won in the year. 

Of the surplus of 16-point-two trillion won last year, four-point-nine trillion won has been carried forward to this year’s budget, leaving eleven-point-three trillion won as the official budget surplus for last year. 

The government gave credit for the budget surplus to enhanced corporate performances and increased exports amid economic growth at home and abroad. 

It is the third straight year the South Korean coffers have been in the black, following two-point-eight trillion won and eight trillion won worth tax surpluses in 2015 and 2016, respectively.