South Korea's exports rose 5.4 percent on-year in June on solid demand for chips and petroleum products, but the country extended its trade deficit for the third consecutive month due to high global energy prices, according to the data by the Ministry of Trade, Industry and Energy Friday.
Last month, outbound shipments stood at US$57.73 billion, up from $54.78 billion a year earlier, Yonhap News Agency reported. It is the highest tally for any June since the ministry began compiling related data in 1956. The previous record was set a year earlier.
Imports jumped 19.4 percent on-year to $60.2 billion in June on soaring global energy prices, leading the country to post a trade deficit of $2.47 billion, the data showed. The country has posted a trade deficit since April.
During the first six months of this year, South Korea saw exports grow 15.6 percent to an all-time half-year high of $350.3 billion.
Imports advanced 26.2 percent on-year to $360.6 billion due mainly to high global energy costs and the surge in raw materials prices.
The country, accordingly, logged a trade deficit of $10.3 billion in the January-June period, which was the highest figure for any first-half period, the data showed.