October exports hit record US$15.5 billion

The nation's exports in October hit a monthly record, and the accumulated exports during the first 10 months of this year amounted to US$10 billion. Also, the government said that it would realize over US$10 billion of trade surplus in the year to come.

The Ministry of Commerce, Industry and Energy said that October's commodity exports amounted to US$15.57 billion, up 15.8% from the same month of a year ago. It also exceeded the previous record of US$15.27 billion in June this year.

Imports amounted to US$14.13 billion, and October's trade surplus reached US$1.45 billion, marking it the third consecutive month of surpluses since August. The ministry said that the trade surplus from January through October amounted to US$9.76 billion, noting that this year's goal of US$10 billion will be achieved shortly.

Officials of the ministry said that this year's trade surplus would exceed US$12 billion unless there is an outbreak of unavoidable factors. Namely, semiconductor prices are rather unstable.

In October, exports of semiconductor chips increased despite the falling international prices, while orders for cars increased steadily.

On the other hand, import growth marked the lowest level of the year because of a slowdown in the domestic economy.