South Korea’s Ministry of Knowledge Economy has released its trade figures for 2011. Korea’s exports increased 19.6 percent year on year to a record $557.8 billion and imports gained 23.3 percent to a record $524.5 billion—a $33.3 billion trade surplus.
Exports from Korean shipbuilders played an important role in achieving the new record. Ships were, by value, the most significant of 13 major export items tracked by the Ministry. Ship exports totaled $56.5 billion, an increase of 15.1 percent on the previous year.
January 3, 2012