S Korea's trade surplus tops 2.07 bln USD in August

South Korea's trade surplus marked 2.07 billion U.S. dollars in August, standing in positive territory for the seventh consecutive month, a government report showed Wednesday.

The trade surplus, however, more than halved from July when the figure posted 5.51 billion U.S. dollars, according to the report by the Ministry of Knowledge Ministry.

While exports rose 29.6 percent year-on-year to 37.52 billion U. S. dollars, imports climbed 29.3 percent to 35.45 billion U.S. dollars, the report showed.

Most sectors saw a gain in exports, with semiconductor and car part exporters saw outbound shipments spike 59.6 percent and 60 percent, respectively, in addition to automobile exports that expanded 27.5 percent on year.

Imports, on the other hand, rose on a gain in the nation's purchase of natural resources, the report showed.

In the first half of 2010, South Korea was ranked the seventh- largest exporter in the world, rising two notches from a year ago, following China, the U.S., Germany, Japan, the Netherlands and France.

For the whole year, South Korea is expected to post a surplus of 32 billion U.S. dollars.

Source: Xinhua