S. Korea Posts $5.4 Billion Trade Surplus in Sept.

South Korea's trade surplus amounted to $5.37 billion in September, up sharply from $1.7 billion the month before, mainly due to a plunge in imports, according to a report released by the Ministry of Knowledge Economy Thursday.

Exports came to $34.97 billion last month, falling 6.6 percent year-on-year, while imports plummeted 25.1 percent to $29.60 billion.

September's trade surplus marks the eighth consecutive month that the country exported more than it imported, with the size of the trade surplus for this year reaching $32.06 billion.

"A surge in exports of liquid crystal displays, semiconductors and autos all contributed to improved figures for last month," Kang Myung-soo, head of the ministry's export-import division, was quoted as saying by Yonhap News Agency.

Outbound shipments of display panels jumped 29.4 percent with those of semiconductors and autos gaining 22.8 percent and 20.5 percent, respectively.

Exports to China, the United States and Europe continued to fall due to weak worldwide demand, although the extent of decline has eased.

Earlier, South Korea predicted that exports would continue to decline until October, but would rebound into positive territory starting in November.