South Korea May Exports Jump 53.2%, Fastest Since 1984, as Chip Sales Hit Record
South Korea’s preliminary exports rose 53.2% in May from a year earlier, beating a 50% forecast and accelerating from 48.0% previously for the fastest annual growth since January 1984. Artificial intelligence-driven demand for chips pushed semiconductor sales and overall shipments to records, while imports rose 20.8%, leaving a provisional trade surplus of $26.95 billion, up from $23.75 billion in April and the largest monthly surplus on record.
The export surge extended the country’s strong trade run and reinforced the central bank’s increasingly hawkish stance. It also bolstered optimism about the trade-reliant economy as semiconductor demand continues to underpin growth, even as geopolitical and inflation risks persist.
From the sources (10 posts)
@financialjuiceS. KOREAN EXPORTS PRELIM ACTUAL 53.2% (FORECAST 50, PREVIOUS 48.0%) $MACRO
@financialjuiceS. KOREAN IMPORTS PRELIM ACTUAL 20.8% (FORECAST 21.9, PREVIOUS 16.7%) $MACRO
@financialjuiceS. Korea to record largest monthly trade surplus on record
@financialjuiceS. Korea provisional trade surplus at $26.95 billion versus $23.75 billion in April
@financialjuiceS.Korea May exports post biggest year-on-year increase since January 1984
@businessSouth Korea’s exports extended their strong run in May, reinforcing the central bank’s increasingly hawkish stance as booming semiconductor demand continues to underpin growth despite rising geopolitical and inflation risks
@firstsquawkSouth Korea’s export continues strong growth, backs central bank's hawkish stance-CNBC
@wsjSouth Korea’s exports grew at the fastest pace in more than four decades in May, as artificial intelligence-driven demand for chips pushed the value of shipments to a record.
@reutersSouth Korea's exports grew more than expected in May at the strongest annual rate in over 40 years, as chip sales hit a record on a global boom in AI investment, bolstering optimism about the trade-reliant economy and its world-beating stoc
@reutersbizSouth Korea's exports grew more than expected in May at the strongest annual rate in over 40 years, as chip sales hit a record on a global boom in AI investment, bolstering optimism about the trade-reliant economy and its world-beating stoc