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South Korea's exports grow 2.5%

Staff writer |
South Korea's exports grew 2.5 percent in June from a year earlier, a government report showed.

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Exports, which account for around half of the economy, increased 2.5 percent from a year earlier to 47.84 billion U.S. dollars in June, according to the Ministry of Trade, Industry and Energy.

Imports expanded 4.5 percent on year to 42.55 billion dollars in June, sending the trade surplus to 5.29 billion dollars.

For the first six months of this year, exports reached 283.57 billion dollars, up 2.6 percent from the same period of last year. Imports rose 2.7 percent to 263.29 billion dollars in the same period.

At the same time, South Korea's consumer price inflation hit the highest in 20 months as the low base of last year continued to boost consumer prices this year, a government report showed.

According to Statistics Korea, consumer prices gained 1.7 percent on year in June, the highest since October 2012 when the prices increased 2.1 percent. The consumer price inflation bottomed at 1 percent in February, before rising to 1.3 percent in March, 1.5 percent in April and 1. 7 percent in May.

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