April 20, 2024
Economy
Exports to FTA partners up 18% in H1
[THE INVESTOR] Korea’s exports to trade partners with which it has free trade agreements jumped nearly 18 percent in the first six months of the year, customs data showed on July 31.
Exports to 52 countries that have open trade pacts with South Korea reached US$202.5 billion in the January-June period, up 17.9 percent from US$171.6 billion tallied a year ago, according to the data released by the Korea Customs Service.
Imports also rose 17.1 percent on-year to US$147.9 billion over the cited period, with a trade surplus hitting US$54.6 billion.
Meanwhile, Asia’s fourth-largest economy saw its exports expand 15.8 percent on-year to US$279.4 billion and imports vault 21 percent to US$233.6 billion in the first half on the back of a global trade recovery and a rise in oil prices. The trade surplus stood at US$45.8 billion over the six-month period.
Korea’s FTA partner countries, including the US, China and the European Union, accounted for nearly 70 percent of its total trade.
By Alex Lee and newswires (alexlee@heraldcorp.com)
Exports to 52 countries that have open trade pacts with South Korea reached US$202.5 billion in the January-June period, up 17.9 percent from US$171.6 billion tallied a year ago, according to the data released by the Korea Customs Service.
Imports also rose 17.1 percent on-year to US$147.9 billion over the cited period, with a trade surplus hitting US$54.6 billion.
Meanwhile, Asia’s fourth-largest economy saw its exports expand 15.8 percent on-year to US$279.4 billion and imports vault 21 percent to US$233.6 billion in the first half on the back of a global trade recovery and a rise in oil prices. The trade surplus stood at US$45.8 billion over the six-month period.
Korea’s FTA partner countries, including the US, China and the European Union, accounted for nearly 70 percent of its total trade.
By Alex Lee and newswires (alexlee@heraldcorp.com)
