South Korea posts trade surplus

Seoul, June 1 (IANS) South Korea posted a trade surplus of $6.03 billion in May as exports grew at a faster pace than the previous month despite the continued devaluation of the Japanese yen, a government report showed Saturday.

Trade surplus was $6.03 billion in May after logging a surplus of $2.45 billion in April, according to the Ministry of Trade, Industry and Energy. The trade balance maintained its surplus trend for 16 straight months, reported Xinhua.

Exports increased 3.2 percent from a year earlier to $48.37 billion in May after rising 0.4 percent in the prior month. Imports reduced 4.8 percent to $42.34 billion last month after falling 0.3 percent a month earlier.

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