The trade surplus of South Korea hit a record high in June as a decline in exports caused by the global economic slowdown eased. The imports fell even more than the exports, continuing the surplus climb that has set new record highs in three of the past four months.

The Ministry of Knowledge Economy released data showing that South Korea had a trade surplus of USD7.4 billion in June, surpassing the previous high of USD5.8 billion in April. Exports fell 11.3% to USD33 billion, the smallest decline this year, while imports dropped 32.3% to USD25.6 billion.

The new trade surplus high in South Korea has foreign exchange rates at GBP0.00048 and EUR0.00056.

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