(MENAFN - Qatar News Agency) South Korea's exports to the United States rose 11.3% from a year earlier in the first two months after their landmark free trade agreement came into force, government data showed Sunday.
Exports to the US reached US11.18 billion from March 15, when the pact was implemented, to May 14, while imports from the US rose 2% to 7.73 billion for the two-month period, (Yonhap) news agency reported, citing data from the Korea Customs Service.
During the same period, South Korea's total exports fell 4% from a year ago to 93.4 billion, hit by falling demand amid a deepening debt crisis in Europe.
South Korean cars, auto parts, petrochemicals and textile products primarily benefited from the trade pact with the US, the data showed.
The trade deal between South Korea and the US, first signed in 2007 and modified in 2010, took effect on March 15. It is the biggest US trade deal since the North America Free Trade Agreement went into force in 1994.