South Korea March exports rise for second month, misses expectations
FILE PHOTO: Trucks are parked at a terminal of the Inland Container Depot in Uiwang, South Korea, November 30, 2022. REUTERS/ Heo Ran/File Photo
SEOUL : South Korea's March exports grew for a second month but missed market expectations, as a global trade war triggered by U.S. President Donald Trump's tariffs raises uncertainty for manufacturers, government data showed on Tuesday.
Outbound shipments from Asia's fourth-largest economy stood at $58.24 billion, up 3.1 per cent from a year earlier, weaker than a median 3.5 per cent increase forecast in a Reuters poll of economists.
The fresh U.S. tariffs on automobiles will kick in this week, and Trump has threatened duties on chip imports and reciprocal tariffs on major trading partners.
Imports grew 2.3 per cent to $53.29 billion, resulting in a preliminary trade surplus of $4.99 billion for March.
On average per working day, exports were up 5.5 per cent in March.
