In September, South Korea's exports grew 7.5% YoY to $58.7bn, marking the 12th consecutive monthly increase, driven by semiconductor demand.

In September, South Korea's exports grew 7.5% year-on-year to $58.7 billion, marking the 12th consecutive month of increase, driven largely by semiconductor demand. However, growth slowed from 11.2% in August, with shipments to the U.S. rising only 3.4%. Imports climbed 2.2%, leading to a trade surplus of $6.66 billion. Analysts anticipate possible interest rate cuts by the Bank of Korea due to these trends and overall economic uncertainties.

October 01, 2024
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