Economics
South Korean Exports Extend Double-Digit Gains in Early Data
- Exports posted strong gains even as base effect boost wanes
- Shipments of chips, vessels and oil products rose; cars fell
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South Korea’s exports are poised to extend a run of double-digit gains in November, underpinned by chip and ship sales and signaling global demand remains solid in the run up to the year-end holiday season.
The value of Korea’s overseas shipments advanced 27.6% during the first 20 days of this month, the customs office reported Monday, following a 24% increase for the whole of October. Imports surged 41.9% during the period, led by a jump in the purchase costs of crude oil, gas and related products.