FX.co ★ South Korea Has $1.63 Billion Trade Surplus In July

South Korea posted a merchandise trade surplus of $1.63 billion in July, Statistics Korea said on Tuesday.

That was shy of expectations for a surplus of $3.03 billion following the $1.13 billion surplus in June.

Exports were down 16.5 percent on year, missing forecasts for a decline of 14.5 percent following the 6.0 percent drop in the previous month.

Imports tumbled an annual 25.4 percent versus expectations for a fall of 24.6 percent following the 11.7 percent contraction a month earlier.