SEOUL ― South Korea's exports rose for an eighth straight month in May, led by robust chip sales, though overall growth in shipments lagged market expectations, trade data showed on Saturday.
SEOUL ― South Korea's exports rose for an eighth straight month in May, led by robust chip sales, though overall growth in shipments lagged market expectations, trade data showed on Saturday.Overseas sales by Asia's fourth-largest economy rose 11.7 percent year-on-year to $58.15 billion, a 22-month high, slowing from a gain of 13.8 percent in the prior month and undershooting a rise of 14.2 percent tipped in a Reuters survey of economists.
6 percent, while China-bound shipments extended gains for a third straight month by rising 7.6 percent to $11.4 billion, a 19-month high. It was the first time in four months that shipments to China had exceeded those to the United States.'Exports are building a strong upward momentum,' said Trade Minister Ahn Duk-geun. 'The government will provide all-out support for the upward trend to continue through the year-end.'Imports fell 2.0 percent in May to $53.19 billion, after a 5.
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