South Korea's trade surplus grows
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Big exporters such as Hyundai Motor have seen order books grow.
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(CNN) -- South Korea's trade surplus increased to $15.54 billion in 2003 from a $10.34 billion surplus in 2002, government data shows.
The buoyant electronics and automotive sectors of Asia's fourth-largest economy helped lift exports by 20 percent for the year to $194.3 billion, compared with $162.5 billion in 2002.
According to provisional trade data released by the government Thursday, imports rose 17.5 percent in 2003, reaching $178.8 billion, compared with $152.1 billion a year earlier.
Exports in December reached almost $20 billion, up from $15 billion a year earlier. December imports were $17.6 billion, compared with $14.4 billion in 2002.
South Korea's economy slipped into recession in the first half of 2003 as a credit squeeze took effect. But it recovered in the second half and is tipped to post GDP growth of 6.5 percent in 2004.
The strong export sector is lifting industrial production, which is expected to flow through to a recovery in manufacturing investment.
