South Korea's Exports Increase for 5th Consecutive Month
South Korea's exports grew 3.6 percent from a year earlier in October, rising for a fifth consecutive month, despite a slide in shipments to the United States.
The growth is attributed to strong demand for semiconductors, with outbound shipments reaching $59.57 billion last month, according to data compiled by the Ministry of Trade, Industry and Resources.
- Exports: $59.57 billion
- Imports: $53.52 billion (decreased 1.5 percent on-year)
- Trade surplus: $6.06 billion
This marks the fifth consecutive month since June that the country's monthly exports have posted an on-year gain.
Strong demand for semiconductors drove the growth.
Author's summary: South Korea's exports rose 3.6% in October.
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