South Korea July exports rise at fastest pace in six months
FILE PHOTO: A truck carrying a shipping container travels past cranes at Pyeongtaek port in Pyeongtaek, South Korea, July 9, 2020. REUTERS/Kim Hong-Ji/File Photo
SEOUL : South Korea's exports rose in July at the fastest pace in six months but missed market expectations, trade data showed on Thursday.
Overseas sales by Asia's fourth-largest economy rose 13.9 per cent year-on-year to $57.49 billion, after a 5.1 per cent rise the previous month and marking the fastest growth since January.
It was, however, weaker than an 18.4 per cent increase tipped in a Reuters survey of economists.
Imports rose 10.5 per cent in July to $53.88 billion, after a 7.5 per cent decline in June. It was the fastest increase since September 2022, but slower than a gain of 13.4 per cent expected by economists.
As a result, the country posted a trade surplus of $3.62 billion in July, narrower than the previous month's $7.99 billion, which was the biggest since September 2020.
