S. Korea doubles trade surplus forecast

Wed, 26 May 2004 | Source: AFP

SEOUL: South Korea has doubled its forecast for this year's trade surplus to US$20 billion to reflect stronger-than-expected exports, the commerce, industry and energy ministry said on Tuesday.

The ministry raised its forecast for 2004 exports to $240 billion from the $218 billion projected earlier, and for imports to $220 billion from $208 billion.

The ministry, however, said the current account surplus will reach about $17 billion if oil prices keep rising to average $33- $34 per barrel. -- AFP

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