South Korea June Exports Surge 70.9%, Posting Biggest Annual Gain Since 1978
South Korea’s exports surged 70.9% in June from a year earlier, posting the strongest annual gain since October 1978, according to provisional trade data released Tuesday. The jump was driven by a durable semiconductor boom, propelling the nation’s trade surplus to a record monthly high of $36.15 billion.
Exports easily surpassed the consensus forecast of a 61% increase, while imports surged 30.1% year-over-year, exceeding expectations for a 26.3% rise. The trade surplus expanded significantly from $27.04 billion in May, underscoring the resilience of South Korea’s chip sector and providing a key support for the country’s economic growth.
From the sources (6 posts)
@financialjuiceS. Korea June imports surge 30.1% y/y: Poll forecast 26.3%
@financialjuiceS.Korea June exports post biggest annual gain since October 1978
@financialjuiceS.Korea June trade surplus provisional $36.15 billion vs $27.04 billion in May
@financialjuiceS.Korea June exports surge 70.9% y/y, poll had forecast 61.0%
@financialjuiceS. Korea June trade surplus hits record-high monthly level
@businessSouth Korea’s exports extended their strong run in June, highlighting the durability of the semiconductor boom that is underpinning growth.