S Korea posts trade surplus of $2.19 bln in March

South Korea posted a trade surplus of 2.19 billion U.S. dollars in March, as overseas demand for local products continued to grow, the government said Thursday.

According to a report by the Ministry of Knowledge Economy, South Korea saw a 35.1 percent on-year increase in exports, reaching 37.68 billion U.S. dollars, while imports gained 48.4 percent to 35.49 billion U.S. dollars.

The March balance was a slight increase from February when it posted a 2.08 billion U.S. dollar surplus, it said.

In particular, the ministry noted the export figures were larger than the pre-recession levels as it surpassed the monthly export size of 35.99 billion tallied in March 2008.

Export of semiconductors and auto parts saw more than a twofold on-year increase while shipments of liquid crystal display products also gained 45.2 percent, the ministry said.

However, exports of mobile devices and ships decreased 15.6 percent and 18.2 percent, respectively, from the previous year, it added.

The ministry added it expects the country to be able to reach its annual trade surplus target of 20 billion U.S. dollars this year as the global economic recovery continues to gain pace.

Source:Xinhua