South Korea’s trade surplus widened in November from the previous month as exports posted positive growth on the back of steady global demand, the government said Saturday.
The country’s trade surplus came to US$4.48 billion in November, compared with the surplus of $3.7 billion the previous month, according to the Korean Ministry of Knowledge Economy.
The country’s exports grew 3.9 percent from the same month last year to $47.79 billion with imports gaining 0.7 percent on-year to $43.32 billion.
The export-import data came amid signs Asia’s fourth-largest economy is on a gradual recovery path, with the nation’s industrial production rising for a second month on greater demand for cars and semiconductor chips in November, according to South Korea’s news agency (Yonhap).
The Bank of Korea, the country’s central bank, has cut its key policy rate twice this year, although it froze the rate at 2.75 percent last month.