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Article: SOUTH KOREA POSTS TRADE DEFICIT FOR 4TH STRAIGHT MONTH.
- Article from:
- AsiaPulse News
- Article date:
- April 1, 2008
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SEOUL, April 1 Asia Pulse - South Korea posted a trade deficit for the fourth consecutive month in March due mainly to a surge in crude oil imports, a government report said Tuesday.
The country's trade deficit stood at US$670 million last month, narrowing from over US$1.25 billion in February, the Ministry of Knowledge Economy said. In January, the trade shortfall reached US$3.79 billion.
The latest tally showed exports rising 19.1 per cent on-year to US$36.20 billion last month, while imports shot up 25.9 per cent to a record US$36.87 billion.
South Korea maintained a monthly trade surplus for close to five years before sliding into the red ...