South Korea's Aug exports up 68.7% y/y, expand for 15th straight month
Seoul, September 1 - South Korea's exports skyrocketed by 68.7 percent year-on-year in August, marking the 15th consecutive month of growth and surpassing economists' predictions. The country's economy is thriving as global demand for technology continues to surge. In August, South Korea's exports reached $98.26 billion, according to government data.
The rate of expansion even outpaced the median forecast of a 62.6 percent increase. When adjusting for the number of working days, exports grew at an impressive 72.5 percent per day on average. August had 22 working days, compared to 22.5 days in the same month last year. Imports increased by 22.5 percent, resulting in a preliminary trade balance of $34.75 billion for August.
Written by urgent.news from CNA - Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Asia stocks edge lower as South Korea, Japan benchmarks decline businesstimes.com.sg
- South Korea’s Aug exports up 68.7% y/y, expand for 15th straight month investing.com
- South Korea's President Lee says interest rate rise is unavoidable channelnewsasia.com
