April Hits Record Surplus in Exports

April' trade budgets kept in the black thanks to a surge in final expo
rts. According to the Ministry of Commerce, Industry and Energy (MOCIE
), the trade surplus during April reached 230 million dollars which me
ans that the export showed the maximum amount for any April compared t
o normal years. The increasing pattern, however, fell off to transit f
actors like strikes and reductions in working hours. Imports continued
to rise sharply because of exports increases, domestic growth and exp
ansion of investment in equipment stemming from recovery from the econ
omic crisis.
Total Exports in April rose 18.6 percent, (to $13.64 billion) compared
to the same period of last year and imports jumped 47.4 percent, to $
13.42 billion.
Strikes by autoworkers (estimated loss of $200 million), the outbreak
of foot - and - mouth disease (loss of $40 million), and reduction of
working hours by general election cost $500 million in exports.
On the other hand, demand for imports increased exports and production
. Crude oil imports reached $2 billion effected by high oil prices. By
item, however, raw materials and capital goods led over consumer good
s. This demonstrates the inevitability of import growth.