South Korea reported a trade surplus in June for the first time in 16 months since last February.

According to the trade ministry, the country logged a surplus of one-point-1-3 billion dollars last month. The monthly trade deficit has been falling since peaking at 12-point-five billion dollars in January and has now shifted to a surplus.

However, exports in June fell for the ninth consecutive month to 54-point-two billion dollars, down six percent on-year, the smallest dip so far this year. 

The decline came as shipments of semiconductors sank 28 percent from a year ago but chip exports by value posted eight-point-nine billion dollars, the highest this year.

Meanwhile, imports fell eleven-point-seven percent in June to 53-point-one billion.

The accumulated trade deficit from January to June stands at 26-point-two billion dollars.

The nation recorded a deficit for 15 straight months from last March to May this year, marking the longest deficit streak in 27 years.