S.Korea's Sept. trade deficit surpass US$2 billion
17/10/2008 17:20
South Korea's trade deficit in September reached US$2.06 billion mainly
due to the high cost of oil and other raw materials, a report by the South
Korean Custom Service showed today.
According to the report, imports surge
45.8 percent to US$39.65 billion last month from a year earlier, while export
gained 28.2 percent to US$37.59 billion over the same period.
The shortfalls
from importing oil from the Middle East reached US$7.44 billion in September,
accounting for most of the trade deficit.
However, average oil-import prices
fell from July's peak of US$953 per ton to US$844 per ton in September.
The
report also showed that trade deficit with Japan, which totaled US$3.14 billion
last month, contributed to the shortfalls.
Adding the September's shortfall,
South Korea's cumulative deficit for this year totaled to US$14.67 billion, it
showed.
The South Korean government has said it aims to reduce that figure to
around US$6 billion.
Xinhua
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