S. Korea trade surplus hits new high in 2013

S. Korea trade surplus hits new high in 2013

SEOUL - South Korea's trade surplus widened to a new high of $44.19 billion (S$55.7 billion) in 2013, helped by steady growth in exports, government data showed Wednesday.

Total exports in 2013 rose 2.2 per cent from a year ago to a record high of $559.72 billion while imports fell 0.8 per cent to $515.53 billion, according to the Ministry of Trade, Industry and Energy.

The trade balance has been in the black since February 2012.

In December alone, exports climbed 7.1 per cent year-on-year to $48.05 billion and imports rose 3.0 per cent to $44.38 billion.

Economic officials said Asia's fourth-largest economy would remain on track for recovery.

The government has predicted the economy would grow 2.8 per cent in 2013 and 3.9 per cent in 2014.

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