Global Biz

Trade between S Korea and India surges 44.5%

(Xinhua)
Updated: 2010-12-30 15:23

SEOUL - Bilateral trade volume between South Korea and India surged 44.5 percent during the first 11 months of the year after the two-way trade pact came into effect, the foreign ministry said here Thursday.

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The trade volume in the January-November period totaled $15.6 billion, a whopping 44.5 percent increase from the same period last year, with South Korea's exports to India jumping 45.3 percent to $10.4 billion.

The two Asian economic powerhouses struck a comprehensive economic partnership agreement (CEPA), which took effect as of January 1 this year.

South Korea's major export items to India include auto parts, ships and wireless telephones, while it imports metallic minerals and chemical raw materials, according to the ministry.