Friday, July 1, 2022 – 9:15 am
SEOUL, July 1 (WAM) – South Korea’s exports rose 5.4 percent year on year in June due to strong demand for chips and petroleum products, but the country ran into a trade deficit due to rising global energy prices, data from the Ministry of Trade, Industry and Energy showed today.
And the exported shipments amounted to 57.73 billion dollars last month, up from 54.78 billion dollars a year earlier, describing this figure as the highest recorded in June since the Korean Ministry of Trade, Industry and Energy began compiling related data, Yonhap News Agency reported. in 1956.
The data showed that imports jumped 19.4% on an annual basis to $60.2 billion as global energy prices rose, pushing the country to post a trade deficit of $2.47 billion.
During the first six months of the period, South Korea saw exports grow 15.6 percent to $35.03 billion, the highest number ever.
The data indicated that the rise in energy prices led to a rise in imports by 26.2% to $36.06 billion during the mentioned period, and the trade deficit reached its highest level in half a year at $10.3 billion.
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Wm/ Mustafa Badr Al-Din