S Korea posts trade surplus for 88 months

18 June, 2019 12:00 AM printer

SEOUL: South Korea posted trade surplus for 88 straight months to May despite the export fall, customs office data showed Monday.

Trade surplus amounted to 2.3 billion U.S. dollars in May, staying in the surplus for 88 months since February 2012, according to the Korea Customs Service, reports Xinhua.

The revised figure for export, which accounts for about half of the economy, declined 9.5 percent from a year earlier to 45.9 billion dollars in May, while import shed 1.8 percent to 43.6 billion dollars.

The outbound shipment continued to fall since December last year on the global economic slump and the downturn in business cycle of the global semiconductor industry.