SEOUL, KOREA – Despite the ongoing recession in major economies, Korea's exports in November hit a record high for the year and have continued trade surplus for ten consecutive months. 

The Ministry of Knowledge Economy said on December 2 that the November exports were USD 47,795 million, 3.9 percent higher than the same month last year. The imports for the month were USD 43,320 million, up 0.7 percent from the same period in 2011. The monthly balance was USD 4,475 million.

 

The cumulative trade surplus for 11 months for the year to date was USD 26,801 million, already surpassing the target surplus of USD 23.5 billion for the whole year.

 

The exports for the month were led by mobile telecom devices (25.3%), computers (18.5%), steel and steel products (15.3%), semiconductors (12.9%), and petroleum products (10.1%).

 

By export destination, exports to China have increased 9.9 percent. The exports to the ASEAN region have also gained 43.1 percent.

 

dolph@hankyung.com  enews@hankyung.com