(RTTNews) - South Korea saw a record trade surplus in June, the Ministry of Knowledge Economy said on Wednesday, standing at $7.44 billion. That shatters the previous record of $5.7 billion in April.

Exports were down 11.3 percent on year, coming in at $33 billion, versus forecasts for an 18.7 percent decline after the 28.5 percent contraction in the previous month

Imports dropped 32.3 percent to $25.6 billion, compared to expectations for a 33.5 percent fall after the 40.3 percent annual decline in May.

Through the first six months of 2009, exports are down 22.3 percent on year to $166.1 billion, while imports are off an annual 34.6 percent for a record surplus of $21.6 billion.

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