Economics
Korea Early Exports Show Resilience in Face of China Slowdown
- Shipments extend gains despite global recovery concerns
- China sales suggest demand holding up to start fourth quarter
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Strong gains in South Korea’s exports this month suggest global demand is holding up despite headwinds from supply chain snags and an energy crunch disrupting Chinese production.
Overall shipments grew 36.1% in the first twenty days of the month from a year earlier, data from the customs office showed Thursday. Sales to China jumped 30.9%, indicating that Korea’s biggest trade partner still has solid demand for parts and components.