South Korea’s Export Growth Accelerates on Record Chip Sales
- Chip export tally reaches highest ever value in June
- Economy posts largest trade surplus since September 2020
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South Korea’s export growth accelerated last month, reflecting resilience in global demand as the artificial intelligence and technology sectors drive record gains in semiconductor sales.
Average daily shipments increased 12.4% from a year earlier, according to data released Monday by the customs office, compared with 9% growth in May. Headline exports, which don’t reflect differences in the number of working days in the reporting month, rose 5.1%, while overall imports fell 7.5%. That resulted in a trade surplus of $8 billion, the biggest since 2020.