Korea logs trade surplus for 31st straight month

South Korea posted a trade surplus for the 31st consecutive month in August although the surplus shrank significantly from a year earlier on dwindling exports, customs data showed Monday.

The country’s overall exports came to $46.2 billion last month, down 0.2 percent from the same month last year, according to the data from the Korea Customs Service.

Imports gained 3.1 percent on-year to $42.9 billion.

Earlier this month, the Ministry of Trade, Industry and Energy estimated that exports would inch down 0.1 percent on-year to $46.28 billion while correctly predicting the amount of imports.

The customs data showed the country logged a trade surplus of $3.4 billion last month, marking 31 straight months of a surplus since February 2012. The amount, however, marked a significant drop from a $4.72 billion surplus in August 2013.

Outbound shipments of semiconductors, petroleum products and ships rose 4.8 percent, 6.3 percent and 4.5 percent on-year, respectively, according to the customs data.

Exports of automobiles and home appliances plunged 18.2 percent and 23 percent on-year, respectively, with those of auto parts also slipping 6.6 percent. (Yonhap)