ANN/THE STRAITS TIMES – South Korea’s export growth has stayed strong so far in September, preliminary trade data showed yesterday, underscoring the robust external demand driving the economy.
The value of exports accounting for working-day differences rose 18 per cent from a year earlier in the first 20 days of September, according to data released by the customs office.
Unadjusted for holidays, shipments edged down 1.1 per cent, while imports also decreased by 4.5 per cent from a year earlier. The trade surplus amounted to USD800 million. South Korea’s Chuseok holidays fell during the early part of September, causing the larger-than-usual discrepancy between the adjusted and unadjusted figures.
Shipments of semiconductors, the most lucrative component of the nation’s exports, increased 26.2 per cent from a year earlier in unadjusted terms, the customs office data showed.
As it is home to two of the world’s biggest memory-chip makers, South Korea has been riding the wave of global demand for artificial intelligence development by exporting advanced semiconductors to the United States (US) and other developed nations.
