According to the data released by the Export and Import Division of South Korea's Ministry of Knowledge Economy (MOTIE), the country's trade balance indicated a $4.46 billion surplus in April this year. Meanwhile, in the first four months this year, the surplus in South Korea's trade balance amounted to $10.31 billion.
In April, South Korea's export value rose by nine percent year on year to $50.32 billion, while its overall import value increased by five percent from a year earlier to $45.85 billion. In the given month, South Korea's ship and automotive exports to the US and ASEAN countries rapidly increased, while the items which showed poor export performances in 2013, including steel and oil products, recorded a robust turnaround. Meanwhile, in the given month South Korea's steel import value increased by 6.5 percent year on year, due to growing domestic demand for steel in the automotive sector.