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Nation Enjoys Largest Trade Surplus in Telecom Equipment
January 21, 2005
Korea posted the largest trade surplus in telecommunication equipment in 2003 among member countries of the Organization for Economic Cooperation and Development, the government said on January 10.
In 2003, South Korea reported a surplus of $13 billion in telecom equipment trade, followed by Mexico's $11 billion and Finland's $7.2 billion, the Ministry of Information and Communication said, citing an OECD report. Japan came in fourth with a surplus of $6.6 and Britain was fifth with $5.5 billion, it said.
Korea, home to leading global mobile phone manufacturers such as Samsung Electronics Co. and LG Electronics Inc., was also ranked as one of the few countries to achieve "rapid" surplus growth in communication equipment trade between 1996 and 2003, the ministry said.
In 2004, Korea exported $74.3 billion worth of information-technology (IT) goods and posted an IT-related trade surplus of $33.5 billion, according to separate statistics released earlier by the ministry.