South Korea’s exports extended on-year gains to the ninth straight month in June on the back of record performance of semiconductors, data showed Monday.
Outbound shipments rose 5.1 percent on-year to 57 billion USD last month, according to the data compiled by the South Korean Ministry of Trade, Industry and Energy.
Imports shed 7.5 percent on-year to 49 billion USD last month, resulting in a trade surplus of 8 billion USD. South Korea has been maintaining a trade surplus for 13 consecutive months, reported (Yonhap).
By sector, exports of semiconductors, the backbone of South Korea’s economy, shot up 50.9 percent over the period to 13.4 billion USD. This marked eight consecutive months of year-on-year growth.
Exports of displays, computers, and mobile devices also rose by 26.1, 58.8, and 3.9 percent, respectively, year-on-year in June.
Source: Qatar News Agency