Trade
South Korea’s Early Trade Data Show Export Momentum Rising
- Chip sales jump 45.5%, leading overall gains in exports
- US keeps outpacing China in demand for South Korean products
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South Korea’s early trade data showed that exports are continuing to grow at a double-digit clip, boosting the prospects for an acceleration in economic growth this year.
The value of shipments adjusted for working-day differences increased 17.7% from a year earlier in the first 20 days of May, according to data released Tuesday by the customs office. Unadjusted exports rose 1.5%, while overall imports decreased by 9.8%, resulting in a trade shortfall of $304 million.