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S. Korea's Exports Top $50 Bln for Record Fifth Straight Month

Written: 2018-08-01 11:00:22Updated: 2018-08-01 12:59:40

S. Korea's Exports Top $50 Bln for Record Fifth Straight Month

Photo : YONHAP News

South Korea’s exports have topped 50 billion dollars for five straight months for the first time ever. 

According to the Ministry of Trade, Industry and Energy on Wednesday, exports for July were tentatively estimated at nearly 51-point-nine billion U.S. dollars, up six-point-two percent from the same period last year. 

It marks a rebound from a slight fall in exports in June and is the second highest monthly exports total to be posted. 

The ministry added that cumulative exports in the first seven months of this year grew six-point-four percent on-year to reach a record 349-point-one billion dollars.

Daily average exports during the same period also saw a new high of two-point-two billion dollars. 

Imports, meanwhile, amounted to roughly 44-point-nine billion dollars in July, up 16-point-two percent on-year. 

As a result, the trade surplus came to seven billion dollars, marking 78 straight months in which the country's exports have surpassed imports.

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