South Korea's Aug exports up 68.7% y/y, expand for 15th straight month
South Korea's exports experienced a remarkable surge in August, growing by 68.7% year-over-year, marking the 15th consecutive month of expansion. This surge surpassed market expectations, with analysts foreseeing a median increase of 62.6%. The economy benefited from robust global demand for technology-related products.
In August, South Korean exports amounted to $98.26 billion, according to government figures. Exports climbed at an even more impressive rate of 72.5% per working day, adjusting for the number of working days. August had 22 working days, compared to 22.5 days in the same month last year.
Parallel to the export increase, imports rose by 22.5%, leading to a preliminary trade balance of $34.75 billion for August.
Written by urgent.news from Channel News Asia's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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