Reported about 1 year ago
South Korea's June exports continued their growth streak for the ninth month, driven by strong demand for chips and cars, but the expansion fell short of analysts' expectations. Overseas sales increased by 5.1% to $57.07 billion, while imports decreased by 7.5% to $49.07 billion. The slower growth rate was attributed to calendar effects which some analysts had not accounted for, with chip exports surging 52.2% and car exports rising by 3.8%. Despite this, the outlook remains positive for the second half of the year, especially with the expected global demand for South Korean chips and a weak local currency supporting exports.
Source: YAHOO