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S Korea May exports at full throttle, set fastest pace in 32 years Toggle share menu
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S Korea May exports at full throttle, set fastest pace in 32 years South Korea exports logged their sharpest expansion in 32 years in May, marking another robust month of shipments fuelled by stronger consumer demand globally as many economies start to reopen.
FILE PHOTO: A truck carrying a shipping container travels past cranes at Pyeongtaek port in Pyeongtaek, South Korea, July 9, 2020. REUTERS/Kim Hong-Ji
01 Jun 2021 09:05AM (Updated:
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SEOUL -South Korea exports logged their sharpest expansion in 32 years in May, marking another robust month of shipments fuelled by stronger consumer demand globally as many economies start to reopen.
Cynthia Kim
3 minute read
A truck carrying a shipping container travels past cranes at Pyeongtaek port in Pyeongtaek, South Korea, July 9, 2020. REUTERS/Kim Hong-Ji
South Korea exports logged their sharpest expansion in 32 years in May, marking another robust month of shipments fuelled by stronger consumer demand globally as many economies start to reopen.
Surging chip and car shipments helped power a 45.6% surge in South Korea s exports from a year earlier, government data showed on Tuesday, posting the fastest growth since August 1988 and extending their expansion to a seventh month in a row.
Exports growth, however, slightly missed a consensus of a 48.5% gain in a Reuters poll.