South Korea’s exports expand for 12th straight month in October

South Korea’s exports expanded for a Twelfth consecutive month in October on stable demand for semiconductors and different items, regardless of challenges from international supply-chain disruptions.

Abroad shipments grew 24.0% from a yr earlier to $55.55 billion, following September’s 16.7% improve, in accordance with preliminary knowledge launched by the commerce ministry on Monday.

The median forecast of 5 economists polled by The Wall Road Journal was for a 27.9% rise in exports for October.

Demand for reminiscence chips, equipment, petrochemical merchandise and metal remained sturdy, whereas automotive-chip shortages stifled the shipments of automobiles. Exports to all main markets expanded.

Imports jumped 37.8% to $53.86 billion after a 31.0% rise in September, leading to a commerce surplus of $1.69 billion.

The median forecast within the ballot was for a 41.0% improve in imports and a $2.10 billion surplus for October.

South Korea’s export-driven financial system is forecast by the central financial institution to develop 4.0% this yr. | South Korea’s exports develop for Twelfth straight month in October


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