South Korea's trade surplus widened sharply to USD 8 billion in June 2024 from USD 1.26 billion in the same month a year earlier, far above market expectations of USD 5.24 billion, preliminary estimates showed.

It was the 13th month of surplus and the largest amount since September 2020, as exports grew while imports dropped.

Sales rose 5.1% yoy, the ninth consecutive month of expansion.

Meanwhile, imports unexpectedly shrank faster than expected by 7.5%, compared to market expectations of a 2.2% fall.

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