Economics
Korea’s Export Gains Point to Resilience in Global Demand
- Exports rise to $61.5b, record amount for the month of May
- May exports to China rise 1.2% after dropping 3.4% a month ago
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South Korea’s exports grew at a faster-than-expected pace in May, suggesting global demand remains resilient in the face of war in Ukraine and a slowing economy in China.
Overseas shipments advanced 21.3% in May from a year ago, helped by strengthening car exports, trade ministry data showed Wednesday, exceeding economists’ forecasts for an 18.4% gain. Exports to China rose 1.2% in May after dropping a month earlier. Total semiconductor shipments increased 15%.