By Kim Sung-jin
Staff Reporter

For the first time in four years, the nation’s trade surplus is expected to exceed $15 billion this year, according to the Ministry of Commerce, Industry and Energy (MOCIE) on Friday.

The surplus figure is up from $10.3 billion last year, but still falls short of the $23.9 billion recorded in 1999. The ministry said recovery of the trade surplus is a strong indication that the South Korean economy is heading into a healthy recovery after slumping for more than a year.

``As the world economy shows a tangible recovery, this year’s cumulative trade surplus is forecast to top the expected $15 billion surplus on the back of a strong exports growth rate that surpassed 40 percent,’’ a MOCIE official said.

Brisk shipments of semiconductors, mobile handsets and automobiles helped South Korea expand its monthly exports by double-digits for the seventh straight month through December.

For the cited period, imports stood at $9.37 billion, up 13.8 percent from the same period a year ago and raised the country’s cumulative surplus for this year to $14.13 billion.

Combined exports this year through Wednesday totaled $184.61 billion, up 19.5 percent from a year ago. Imports were $170.49 billion, up 16.8 percent. Exports in December through to Wednesday amounted to $10.05 billion, up by 43.6 percent from a year ago.

Exports are expected to reach $193 billion-$195 billion this year, and imports $178 billion-$179 billion.

sjkim@koreatimes.co.kr