South Korea trade surplus widens in July
Seoul, South Korea – In July, South Korea posted a trade surplus of 5.67 billion dollars, witnessing a gain for the sixth consecutive month, thanks to robust semiconductor and car exports.
Ministry of Knowledge Economy released figures on Sunday claiming 29.6 per cent rise in July exports compared to the $41.36 billion recorded last year.
Meanwhile, the economy of the country witnessed a 7.2 per cent growth in the second quarter in comparison to the preceding year.
Commerce Ministry thinks of hiking this year’s trade surplus forecast more than $30 billion. However, economists claim of lower forecast to meet the forecast easily, considering the logged $23.32 billion.
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