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To: StanX Long who wrote (10773)	8/1/2003 1:04:20 AM
From: StanX Long	Respond to of 95487

South Korea posts 666 million dollar trade surplus in July Friday August 1, 12:39 PM sg.biz.yahoo.com South Korea posted a trade surplus of 666 million dollars in July, keeping in the black for a fourth consecutive month on stronger exports, the commerce, industry and energy ministry said. Exports rose 16.0 percent year-on-year to 15.54 billion dollars in July, while imports grew 14.1 percent to 14.88 billion, the ministry said. Brisk exports of microchips, computers and telecom equipment pushed the customs-cleared trade account into surplus, the ministry said. The country recorded a 2.32 billion dollar trade surplus in June with exports jumping 21.9 percent year-on-yar to 15.72 billion dollars and imports also rising 12.2 percent at 13.39 billion. "Wireless telecom equipments exports are maintaining their solid growth and semiconductors and computer shipments are also showing signs of recovery," the ministry said. "Auto exports, however, were sluggish due to ongoing strikes by the union at Hyundai Motor." Semiconductor exports are estimated to have grown 13.5 percent year-on-year to 1.59 billion dollars in July, marking the first double-digit growth since January when they grew 39.6 percent. Wireless telecom equipment exports rose 55.6 percent to 1.52 billion dollars in July and computer exports rose 23.2 percent to 1.37 billion, while vehicles dropped 19.9 percent to 890 million dollars. In the seven months to July, the trade account recorded a 3.98 billion dollar surplus, compared with a 5.23 billion dollar surplus a year earlier. The ministry forecasts another trade surplus in August as imports are expected to remain sluggish, although the pace of export growth may also slow due to strikes at major workplaces. "Imports have not entered a recovery phase yet on sluggish domestic demand," it said, adding that weak imports of capital goods are feared to undermine the country's export growth potential. Exports to China are showing rapid growth and shipments to the European Union are posting a solid rise, while those to the US and the southeast Asian economies are relatively sluggish, it said. In July last year, the country's total exports rose 17.6 percent to 13.4 billion dollars, while imports increased 17.3 percent to 13.0 billion dollars. -------------------------------------------------------------------------------- Copyright © 2002 AFP. All rights reserved. All information displayed in this section (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the contents of this section without the prior written consent of Agence France-Presses.