SEOUL, Sept. 3 (UPI) -- South Korea Monday said August exports rose 14.4 percent to $31.2 billion from last year, taking Seoul closer to its target of $360 billion for all of 2007.
The commerce and industry ministry said the August numbers were driven by rising demand for automobiles, steel and general machinery, Yonhap news agency reported.
August imports rose 9.8 percent to $29.7 billion from the same month of last year, leaving the country with a trade surplus of $1.5 billion for the month, compared to only $260 million in the same month of last year.
The report said August represented the 53rd straight month of trade surplus, and the 19th straight month that the surplus was up in double digits.
August auto export rose 43 percent, steel was up 30.3 percent and general machinery 38.5 percent.
South Korea’s August exports to the Middle East showed the biggest increase -- 56.8 percent -- followed by exports to the European Union (26.2 percent) and China (12.9 percent). Exports to the United States rose 3.3 percent.
