South Korea's imports from Middle Eastern countries shot up 51.7 percent on-year in the first five months of this year as the country purchased more oil and gas products to fuel its industries, the government said Monday.
The trade minister's office said the country imported US$34.0 billion worth of products until May from such countries as Saudi Arabia, Qatar and
the United Arab Emirates, while exports rose 17.4 percent to $10.7 billion for a trade deficit of $23.3 billion in the cited period.
During the same period, South Korea's overall trade was in the black by $11.5 billion, with local companies shipping out $179.8 billion worth of goods and buying $168.3 billion in foreign products.
"In effect, the country logged a trade surplus with most of the world and used the money to buy energy resources from the Middle East," the office
under the foreign ministry said.
During the five month period, South Korea's combined surplus with North American, European and African countries reached $9.1 billion, while it
stood at $19.8 billion with Asian countries and $8.2 billion nations in Latin American.
The country, meanwhile, posted a moderate deficit with Oceania in the cited period, while its chronic deficit with Japan hit $14.9 billion.