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S Korea's trade volume likely to expand 20% in 2010: gov't report   

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SEOUL, June 3 (Xinhua) -- South Korea saw an increase in trade volume for more than 20 percent on-yaer in 2010 amid a steady recovery in the global economy, the government said Thursday.

According to a report by the Ministry of Knowledge Economy, the nation's exports marked a year-on-year growth of 36.0 percent to 180.3 billion U.S. dollars in the first five months of 2010, while imports jumped 40.7 percent to 168.4 billion U.S. dollars during the same period.

The trade surplus, accordingly, reached 11.9 billion U.S. dollars, the ministry added.

The ministry forecast the trade account will likely grow around 20 percent vis-a-vis last year, despite the eurozone fiscal concerns, citing it to a 4 billion-U.S. dollar surplus marked in April and May despite the growing concerns in European countries.

"With respect to overall volume, the country's trade has fully recovered from the worldwide economic slump caused by the collapse of Lehman Brothers in late 2008," An Byung-hwa, head of the ministry's export-import division, was quoted as saying by Yonhap News Agency.

 

 
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