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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: S.Korea expects $2.5 bln trade surplus in Feb Reuters - Sunday, February 22 SEOUL, Feb 22 - South Korea said it expects a surplus trade balance of around $2.5 billion in February from a deficit of $3.36 billion in January, due to weaker imports. ADVERTISEMENT Exports by Asia's fourth-largest economy are set to drop by less than 20 percent in February over a year ago after posting a record 33.8 percent loss in January, the Ministry of Knowledge Economy said in a statement on Sunday. It did not give an expected growth rate for imports. The country's exports edged up 0.4 percent in the first 20 days of February from a year ago to $17.79 billion, while imports slid 23.2 percent to $16.86 billion, producing a $0.93 billion surplus, the ministry said. A weaker won currency <KRW=>, an increase in deliveries by ship builders and more business days in February helped both exports and trade account improve, the ministry said in a statement. The won fell for nine consecutive sessions to trade near an 11-year low set in November last year, bolstering price competitiveness of domestic companies in overseas markets. Yonhap news agency quoted South Korean foreign exchange officials as saying the country may use some of the foreign reserves to shore up the tumbling unit. [ID:nSEO282333] The fall in the local currency, along with healthy shipments of vessels, are expected to help the country post a trade surplus in March, the ministry added without providing details. It said a drop in imports during the first 20 days of February was due to weaker domestic demand and lower raw material prices. In January, the country's exports totalled $21.37 billion and imports slid 31.9 percent to $24.72 billion from a year ago, resulting in a $3.36 billion deficit, revised official figures showed earlier. (Reporting by Cheon Jong-woo and Yoo Choonsik; Editing by Anshuman Daga) Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Business US-BUSINESS SummaryReuters - 50 minutes ago GLOBAL MARKETS WEEKAHEAD-End of bear market ralliesReuters - 57 minutes ago Germany: EU backs blanket financial regulationAP - 1 hour 7 minutes ago UBS chairman attacked over U.S. tax fraud probe: paperReuters - 1 hour 15 minutes ago Europe backs hedge fund oversight, haven crackdownReuters - 2 hours 1 minute ago Most Popular – Business Viewed Huge gamma-ray blast spotted in space Terminally ill British TV star marries as cameras roll Seductive chemicals hidden in sloppy kisses Obama hails 'quickest and broadest' tax cut Malaria: Spoonful of sugar could save thousands of children View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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