According to the data released by the Export and Import Division of South Korea's Ministry of Knowledge Economy, the country's trade surplus totaled $2.96 billion in January this year.
In January, on the back of strong outbound shipments of semiconductors and ships, South Korea's exports rose 46 percent year on year, reaching $44.89 billion. Most of South Korea's major export items showed a notable increase; in particular, ship exports displayed three-digit growth.
South Korea's exports of steel in January rose 51.8 percent year on year to $2.85 billion. South Korea's steel exports to the US increased by 70.7 percent, while its steel exports to the EU surged 63.9 percent, both compared to January 2010.
The country's ship exports in January reached a value of $7.17 billion, climbing by 278.9 percent year on year. In particular, South Korea's exports of ships to China and Latin America went up dramatically, posting respective increases of 872.1 percent and 1,324.9 percent.
In the meantime, South Korea's automobile exports surged 50.7 percent to $3.39 billion, while its general machinery exports came to $1.21 billion with an increase of 29.4 percent, both compared to January 2010.