According to the Korea Customs Office data released on February 15, South Korean exports in January this year to $ 41.35 billion, down 7 percent from a year earlier and imports $ 43.38 billion, an increase of 3.3 percent the month South Korea trade deficit $ 2.03 billion, creating the largest deficit in the past three years record.

Korea Customs Service said that a substantial increase in the trade deficit is mainly because the Lunar New Year holidays and other seasonal factors led to the start date to reduce, in addition, the United States and the European Union and other developed economies, an economic downturn lead to a South Korean export growth weak and South Korea imports to maintain strong growth is also a deficit to expand the main reason.

data show that in exports in January this year, South Korean oil exports stood to maintain a high growth of 39.5%; marking time in the automotive and steel exports, an increase of only 2.2% and 0.3%; wireless communications equipment and ship exports significantly dropped by 30.7% and 43.7%. In imported products, crude oil, the increase in coal imports were 17.5% and 25.4%; wheat, pork and clothing exports sharply increased by 22.9%, 43.7% and 16.2%.

From a regional perspective, South Korea and Southeast Asia, China, Hong Kong, China, Latin America and the United States in January, respectively, a trade surplus, but the Middle East, Japan and Australia trade deficit.

data released the same day, February 1 to 10, the South Korean exports reached $ 15.3 billion, imports amounted to $ 17.7 billion, $ 2.4 billion trade deficit during this period.

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