South Korea Posts $1.67 Billion Trade Surplus In August

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South Korea saw a trade surplus of $1.67 billion in August, the Ministry of Knowledge Economy said on Tuesday, coming in below expectations for a $2.4 billion surplus following marks of $4.41 billion in July and $7.27 billion in June.

Exports were down 20.6 percent on year to $29.08 billion, missing estimates for a 20.1 percent annual decline. Imports were down 32.2 percent to $27.41 billion - in line with forecasts for a 32.1 percent annual contraction.

Through the first eight months of the year, South Korea has a trade surplus of $26.83 billion, the data showed, with exports totaling $226.57 billion and imports topping $199.73 billion.

(Market News Provided by RTTNews)