RoK’s exports post double-digit increase for seven months
By July 2017, the Republic of Korea (RoK) posted a double-digit export growth for seven months in a row, according to the Ministry of Trade, Industry and Energy.
By July 2017, the Republic of Korea (RoK) posted a double-digit export growth for seven months in a row (Source: english.yonhapnews.co.kr)
Hanoi (VNA) – By July 2017, the Republic of Korea (RoK) posted a double-digit exportgrowth for seven months in a row, according to the Ministry of Trade, Industryand Energy.
Outbound shipments came to 48.85 billion USD in July, up 19.5percent against the same period last year, the ministry was cited by the YonhapNews Agency.
The trade tally showed imports advancing 14.5 percenton-year to 38.2 billion USD last month.
Last month's trade surplus was10.6billion USD, marking 66 straight months that the country's exports haveexceeded imports.
Exports of computer chipssurged 57.8 percent year-on-year in July to 7.89 billion USD. Sales of shipsskyrocketed 208.2 percent last month to extend its winning streak to fivemonths.
Excluding shipments ofships and chips, Asia's fourth-largest economy saw its exports gain about 2percent in July.
Last month, the country’s exportsto China and the US rose 6.6 percent and 7 percent on-year, respectively.Meanwhile, its exports to Vietnam jumped 29.9 percent, expanding for the 18thmonth in a row.-VNA
The Republic of Korea (RoK) surpassed the US to become the second largest trade partner of Vietnam, with two-way trade hitting 29.1 billion USD in the first six months of this year.
Domestic companies have not taken full advantage of the incentives offered by preferential tariff policies for Vietnamese firms to sell products to the Republic of Korea, according to the deputy director-general of the Asia-Pacific Market Department under the Ministry of Industry and Trade.
The Republic of Korea has surpassed the US, the European Union and ASEAN for the first time to become Vietnam’s second-largest trade partner, after China.
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The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
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By July 2017, the Republic of Korea (RoK) posted a double-digit export growth for seven months in a row (Source: english.yonhapnews.co.kr) 
