South Korea's trade surplus fell slightly in October from a month earlier as exports declined while imports slightly increased on-month, a government report showed Sunday.
The nation's trade surplus stood at US$3.63 billion in October compared to $4.7 billion the previous month, according to the report by the Korea Customs Service.
Exports fell 1.6 percent on-month to $34 billion in October, while imports rose 1.8 percent to $30.3 billion. On an annual basis, exports fell 8.5 percent and imports dropped 16 percent.
In the first ten months of the year, cumulative exports reached $294 billion, down 19.7 percent from a year ago, while cumulative imports fell 31.5 percent on-year to $260.3 billion.
The customs office predicted that the nation's trade volume will expand in the coming months from rising imports of oil products.
It also expected the nation's trade surplus to reach $2.5 billion-$3 billion a month, while both exports and imports mark plus growth in November.
(Source: Yonhap News)
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