South Korea posts trade surplus for 22 straight month

South Korea logged a trade surplus for 22 straight months in November despite sluggish exports growth, customs data. South Korea's exports came to US$47.9 billion last month, up 0.2% from the same month a year earlier, while imports dropped 0.6% on-year to $43.1 billion, according to the data provided by the Korea Customs Service. As a result, Korea logged a trade surplus of $4.8 billion last month, marking 22 straight months of a surplus since February last year. During the January-November period, its cumulative trade surplus rose to $40.5 billion. Exports of ships, home appliances and mobile communications equipment rose 31.6%, 9.6% and 8.7%. Those of steel and liquid crystal display products, however, dropped 17.2% and 14%. Exports bound for Australia, the European Union and China rose 29.1%, 6.5% and 3.7% over the same period, while shipments to Southeast Asian countries and the Middle East declined 11.9% and 10.7%, according to the data.