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| ▲ This file photo, taken Dec. 21, 2021, shows container ships being loaded with cargo at a port in South Korea's largest port city of Busan. (Yonhap) |
trade balance-2021
S. Korea's exports rise 25.8 pct in 2021 to hit all-time high
SEOUL, Jan. 1 (Yonhap) -- South Korea's exports rose 25.8 percent in 2021 from the previous year to reach an all-time high on the back of solid demand for chips and petroleum products amid a global economic recovery, the industry ministry said Saturday.
Outbound shipments stood at US$644.54 billion last year, compared with $512.5 billion a year earlier, according to data compiled by the Ministry of Trade, Industry and Energy.
It marked the highest annual figure since the country began compiling trade related data in 1956.
Imports spiked 31.5 percent on-year to $615.05 billion in 2021, resulting in a trade surplus of $29.49 billion. It marked the 13th consecutive month that the country's exports exceeded imports, according to the ministry.
For December, monthly exports increased 18.3 percent on-year to reach $60.74 billion.
Imports climbed 37.4 percent on-year last month to $61.32 billion, resulting in a monthly trade deficit of $590 million, data showed.
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