InfoAnda - SKorea swings to trade deficit in 2008

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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: SKorea swings to trade deficit in 2008 AFP - 2 hours 46 minutes ago SEOUL (AFP) - - South Korea posted a trade deficit of 13 billion dollars last year, the first shortfall since 1997, due to weak demand caused by the global economic crisis, officials said Friday. In 2008 total exports from Asia's fourth-largest economy rose 13.7 percent from a year ago to 422.4 billion dollars. Imports soared 22 percent to 435.4 billion dollars, the Ministry of Knowledge Economy said. However, in December alone South Korea recorded a trade surplus of 670 million dollars. During the month exports fell 17.4 percent to 27.29 billion dollars while imports shrank 21.5 percent to 26.62 billion dollars. The ministry said it expected this year's annual exports to grow just 1.0 percent to 426.7 billion dollars and imports to fall 4.7 percent to 414.8 billion dollars for a trade surplus of 11.9 billion dollars. HI Investment and Securities economist Park Sang-Hyun said December export data showed more signs of a technical recession. "We shouldn't expect good news from the export side in the first half," he told Dow Jones Newswires. Email Story IM Story Printable View Blog This Recommend this article Average (1 vote) Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy TOPWRAP 1-China, India, Russia factories slash output, jobsReuters - 15 minutes ago SKorea swings to trade deficit in 2008AFP - 2 hours 46 minutes ago SKorean president vows to kickstart slumping economyAFP - 2 hours 50 minutes ago Alstom boss says world should not buy Chinese trains: reportAFP - Friday, January 2 Related Articles: Business Nokia CEO to favour profit over sales targets - FTReuters - 14 minutes ago TOPWRAP 1-China, India, Russia factories slash output, jobsReuters - 15 minutes ago Oil falls to below $42 a barrel in AsiaAP - 22 minutes ago CORRECTED - CORRECTED-Malaysian stocks pre-open session hit by technical gliReuters - 32 minutes ago Russian December oil exports rise 18 pct m/mReuters - 49 minutes ago Enlarge Photo SKorea swings to trade deficit in 2008 Related Photos Slideshow Full Photo Coverage: Business & Economy Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Rare Bugatti untouched for 50 years could fetch millions: report NASA describes final moments of Columbia tragedy Hamas defiant as Israel rejects Gaza truce Actress Jennifer Aniston appears naked in GQ magazine Japanese tourist spends 3 months in Mexico City airport View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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