According to the data released by the Export and Import Division of South Korea's Ministry of Knowledge Economy, in October this year the country recorded a trade surplus of $6.91 billion.
In October, despite growing concerns over the slower rate of increase, South Korea's robust exports in most sectors drove the annual export total up to $44.12 billion, increasing by 29.9 percent year on year.
In the month in question, South Korea's steel exports rose by 40.1 percent to $2.64 billion, its automobile exports surged by 32.8 percent to $3.43 billion, its household appliance exports increased by 31.7 percent to $1.21 billion, while the country's ship exports increased by 22.6 percent to $4.85 billion, all compared to October 2009.
Among the major export partners of South Korea, in October, the country's exports to China increased by 33.8 percent, exports to the US rose by 71 percent, to Japan by 44.3 percent, to ASEAN countries by 20.2 percent, to the European Union by 20.5 percent, to Latin America by 64.3 percent, to the Middle East by 86.1 percent, while an increase of 58.7 percent was recorded in its exports to Oceania, all compared to the same month last year.
Meanwhile, in October, South Korea's imports rose 22.4 percent year on year, reaching $37.21 billion, the highest level since the economic crisis began in September 2008. Inbound shipments of raw materials went up by 20.3 percent while imports of capital goods increased by 40.8 percent - both on year-on-year basis.