Exports pick up on resilient chip demand

Big hike: Currency traders watch monitors at KEB Hana Bank in Seoul. South Korea’s shipments of semiconductors jumped 42.5% from a year earlier in the first 20 days of August. — AP

SEOUL: South Korea’s early trade data showed exports gaining momentum this month, boosting the outlook for economic growth and suggesting global demand for semiconductors remains resilient.

The value of shipments increased 18.5% from a year earlier in the first 20 days of August, according to data released yesterday by the customs office. Imports increased by 10.1%, resulting in a trade shortfall of US$1.47bil.