According to the data released by the Export and Import Division of South Korea's Ministry of Knowledge Economy, the country's trade balance indicated a $3.1 billion surplus in September, the eighth consecutive month in which a trade surplus was registered.
Both exports and imports slowed their downward pace significantly in September, while the country's total export value in September fell by 1.8 percent year on year and was up 6.3 percent compared to July, totaling $45.7 billion.
South Korea's basic steel export value was $3.1 billion in the month in question, down 9.1 percent compared to September 2011, while its export value of automobiles in September fell by five percent year on year to $3.5 billion. The country's general machinery exports amounted to $3.7 billion, dropping by 8.7 percent year on year. On the other hand, South Korea's export value of ships in September fell by 50.6 percent year on year to $1.6 billion.
In the given month, exports to emerging economies such as China and the ASEAN region saw double digit increase figures.
Meanwhile, in September this year South Korea's imports fell 6.1 percent year on year, totaling $42.5 billion. Inbound shipments of raw materials declined 9.1 percent year on year. South Korean imports of capital goods and consumer goods increased by 5.2 percent and 3.9 percent year on year, respectively.