World

RoK enjoys trade surplus for 64 consecutive months

The Republic of Korea had enjoyed trade surplus for a 64-month streak in May spurred by strong exports on the global demand upturn, the country’s Customs Service announced on June 15.
RoK enjoys trade surplus for 64 consecutive months ảnh 1The Republic of Korea had enjoyed trade surplus for a 64-month streak in May (Photo: EPA)

Seoul (VNA) - The Republic of Korea had enjoyed trade surplus for a64-month streak in May spurred by strong exports on the global demand upturn,the country’s Customs Service announced on June 15.

However, the country’s trade surplus plunged substantially in May to 5.68billion USD from 12.9 billion USD recorded in April.

The East Asian economic power logged 6.34 billion USD in trade surplus withSoutheast Asian countries, including 2.91 billion USD with Vietnam. Meanwhile,it saw 2.59 billion USD in trade surplus with China, its largest trade partner.

The country’s trade surplus with the US dwindled more than 50 percent to 864million USD from 1.78 billion USD tallied a year ago amid the RoK Government’sefforts to reduce its surplus with the world’s largest economy.

Data also showed that RoK’s trade with Middle East nations and Japanexperienced a deficit of 3.77 billion USD and 2.17 billion USD, respectively.

The country’s exports have been on sharp rise since November last year thanksto the brisk overseas demand for RoK semiconductors and vehicles. In May,exports picked up 13.3 percent year-on-year to 45 billion USD while importsrose 19.1 percent year-on-year to 39.3 billion USD.-VNA
VNA
#RoK#64-month streak#trade surplus#global demand upturn#strong exports#Customs Service#RoK semiconductors
Follow VietnamPlus

Related News

Vietnam becomes largest shrimp provider in RoK

Vietnam becomes largest shrimp provider in RoK

A year after the Vietnam - Republic of Korea (RoK) free trade agreement became operational, Vietnam is the largest shrimp supplier of the RoK, providing 49 percent of total shrimp imports.
RoK splashes out in Vietnam: KOTRA

RoK splashes out in Vietnam: KOTRA

The Republic of Korea topped the investor line-up in Vietnam with over 50 billion USD as of the end of 2016, according to statistics from the Korea Trade-Investment Promotion Agency.

See more

At Pulau Seraya power station (Photo: Straitimes)

Singapore begins construction on hydrogen-fueled power plant

Singapore on October 23 began the construction of an 800 million USD power plant that has the capability to use hydrogen to generate electricity, as part of a push to utilise the fuel to reach Singapore’s net-zero carbon emissions target by 2050.

Delegates at the event (Photo: VNA)

125th anniversary of Permanent Court of Arbitration celebrated

The Permanent Mission of Vietnam to the United Nations and missions of the Philippines, Australia, Egypt, Guatemala, Hungary, Thailand, France, Eritrea and Austria, organised a ceremony on October 22 to celebrate the 125th anniversary of the Permanent Court of Arbitration (PCA), as part of the International Law Week at the UN General Assembly's Legal Committee (Sixth Committee).

CEO of the Malaysia Digital Economy Corporation Anuar Fariz Fadzil (Photo: focusmalaysia.my)

Malaysia continues placing emphasis on digitalisation

The Budget 2025 provides significant support to further accelerate Malaysia’s digitalisation, encourage adoption of artificial intelligence (AI) and drive inclusive growth, further positioning Malaysia as a leading digital hub within the ASEAN region, according to CEO of the Malaysia Digital Economy Corporation (MDEC) Anuar Fariz Fadzil.

Malaysia's economic reforms boost investment inflow (Photo: thestar.com.my)

Malaysia's economic reforms boost investment inflow

Malaysia has attracted substantial foreign investments, reaching 22.2 billion MYR (5.16 billion USD) in the third quarter of 2024, the highest level for the same period since 2012, according to UOB's Global Markets and Economics report.

Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the UN speaks at the debate (Photo: VNA)

Maintaining peace, stability a must for progress on human rights: Ambassador

Progress in human rights can only be achieved by maintaining peace and stability, respecting the rule of law at both the international and national levels, and ensuring respect for the principles of national sovereignty and non-interference in internal affairs, said Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the UN.

A visitor browses travel promotions at a travel fair in Nonthaburi province. (Photo: Bangkok Post)

Thailand plans enhanced support for domestic tourism

Thailand’s Ministry of Tourism and Sports is aiming to increase subsidy to local tourists in the upcoming stimulus scheme to 50% and would like to change the criteria for online travel agents, mandating them to register in Thailand to avoid losing income to foreign companies.

Oil field offshore Indonesia. (Photo: thejakartapost.com)

Indonesia begins major oil, gas exploration in Sulawesi

Indonesia's state-owned oil company Pertamina, along with foreign partners Sinopec from China and Kuwait’s Kufpec, has signed a contract to explore the Melati oil and gas block, located off the coast of Sulawesi. The block is estimated to contain trillions of cubic feet of gas reserves.