South Korea’s exports rise 83.5% to record — Channel NewsAsia

In South Korea, exports rose by 83.5% year-on-year in September, reaching a record monthly level. According to the country’s customs service, this was the 16th consecutive month of export growth.

Record semiconductor shipments

Semiconductor shipments also set a record. Their growth was driven by global spending on artificial intelligence infrastructure. Average exports per working day increased by 104.9% compared with September of the previous year.

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Figures exceeded expectations

According to Channel NewsAsia, the market expected exports to grow by 62%. Imports rose by 26% year-on-year in September, also exceeding the forecast of 21.5%. The preliminary trade balance surplus stood at $49.85 billion, compared with $34.79 billion in August.