South Korea June exports log ninth month of growth, misses forecasts

SEOUL : South Korea's exports increased for a ninth month in June, albeit at a slower pace than seen by analysts, as robust demand for chips continue to lead the export recovery in Asia's fourth-largest economy.

Overseas sales in June increased 5.1 per cent from a year earlier to $57.07 billion, while imports decreased 7.5 per cent from a year ago to $49.07 billion, preliminary data from the Korea Customs Service showed.

Export growth missed analysts' forecasts of 6.3 per cent expansion from a year earlier, likely because of calendar effects as June this year had 21.5 working days for shipments, fewer than 23 days the same month last year.