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Korea Exports Extend Gains, Suggesting Global Resilience

  • Korea’s trade deficits mount, further pressuring currency
  • Steady trade performance is key to central bank tightening
Updated on

South Korea’s exports extended gains in July, suggesting ongoing resilience in a global economy that’s under pressure from elevated energy prices, rising interest rates and China’s virus restrictions.

Overseas shipments climbed 9.4% from a year earlier, just shy of a forecast 10% gain, government data showed Monday. Average daily shipments, which take into account one less business day than a year earlier, rose 14.1%, it said.