South Korea Sees Export Volume Rally for 7th Month
(MENAFN) South Korea’s exports continued to expand in August, marking the seventh consecutive month of growth fueled by strong demand in the electronics sector, according to data released Tuesday by the Bank of Korea (BOK).
The export volume index climbed 5.4 percent year-over-year in August, extending a growth streak that began in February.
Shipments of computers, electronic, and optical devices surged by 17.6 percent compared to the same month last year, sustaining double-digit growth for the sixth month running.
Meanwhile, export volumes for chemicals, metal products, electrical equipment, and machinery saw moderate declines in single digits. Conversely, oil products and transport equipment exports posted modest single-digit gains.
The export value index increased 2.0 percent in August from a year earlier, marking the third month of consecutive value growth.
On the import side, the volume index rose 2.2 percent during August, though the import value index fell by 3.8 percent.
The net terms-of-trade index for goods, reflecting the ratio of export prices to import prices, improved by 2.9 percent year-on-year in August, driven by a sharper decline in import prices relative to export prices.
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