South Korea’s trade balance posts $2 bn surplus

September 1st, 2012 - 2:18 pm ICT by IANS  

Seoul, Sep 1 (IANS) South Korea’s trade balance posted a surplus of $2.04 billion last month as imports contracted at a faster pace than exports, a government report showed Saturday.

Trade surplus reached $2.04 billion in August, down from a surplus of $2.76 billion dollars tallied in the previous month, according to the report by the Ministry of Knowledge Economy.

Exports retreated 6.2 percent on-year to $42.97 billion in August, while imports plunged 9.8 percent to $40.93 billion over the cited period, reported Xinhua.

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