Korea trade surplus over 6 years

According to the Korea Customs Department, the country's trade balance surged 74 months to March, when exports were strong thanks to demand for its semiconductor products.

In March, Korea posted a trade surplus of $ 6.8 billion, maintaining a surplus since February 2012. The country's trade surplus over the long term is attributed to higher export growth than imports. Exports, which accounted for half of the Korean economy, rose 6.1 percent from a year earlier to 51.6 billion dollars, while imports rose 5.2 percent to 44.8 billion dollars. USD. Meanwhile, South Korean central bank (BoK) data showed that foreign currency deposits of the country last month rose, as companies limited to sell the greenback, in the context of the currency down. price compared to Won. South Korea's foreign currency deposits reached $ 81.33 billion by the end of March, up $ 370 million from the previous month. According to BoK, the government plans to maintain household debt growth below 8.2 percent this year with a series of measures to curb excessive lending. Debt of Korean households stood at 1.451 trillion won ($ 1.350 billion) in the fourth quarter of 2017, up 8.1 percent from the same period last year. Financial Services Commission Chairman Choi Jong-ku said at a meeting of financial sector representatives that the growth rate of family debt was substantially stabilized. Also related to finance, South Korean Finance Minister Kim Dong-yeon urged the National Assembly to quickly pass on additional budgets needed to tackle youth unemployment. Earlier this month, the South Korean government announced a series of measures, including strong tax and financial initiatives, and used an additional budget of 3.900 billion won on youth unemployment. high and submitted to the National Assembly on 5 April.