Economic Indicators
South Korea June exports log ninth month of growth, misses forecasts
2024.06.30 20:26
SEOUL (Reuters) – South Korea’s exports increased for a ninth month in June, albeit at a slower pace than seen by analysts, as robust demand for chips continue to lead the export recovery in Asia’s fourth-largest economy.
Overseas sales in June increased 5.1% from a year earlier to $57.07 billion, while imports decreased 7.5% from a year ago to $49.07 billion, preliminary data from the Korea Customs Service showed.
Export growth missed analysts’ forecasts of 6.3% expansion from a year earlier, likely because of calendar effects as June this year had 21.5 working days for shipments, fewer than 23 days the same month last year.
