2 weeks Ago By [email protected] (MENAFN)
( MENAFN - The Peninsula) QNA Seoul: South Korea's exports extended on-year gains to the 14th straight month in November, data showed Sunday, on the back of the strong performance of chips. Outbound shipments rose from a year earlier to $56.3bn last month, according to the data compiled by the Ministry of Trade, industry and Energy, reported by Yonhap News Agency.
Imports shed 2.4% on-year to $50.7bn, resulting in a trade surplus of $5.
61bn. South Korea has been maintaining a trade surplus for 18 consecutive months. By sector, exports of semiconductors shot up 30.
8% to hit $12.5bn last month, marking the highest amount for any November. It was also the fourth consecutive month the country has set a new monthly high for chip exports.
The biohealth sector logged 19.6% on-year growth to $1.4bn, maintaining growth for five straight months.
Exports of ships spiked 70.8% on-year to $2.5bn.
The ministry added that weather conditions also hindered shipments of automobiles late last month. Exports of petroleum and petrochemical products dipped 18.7% and 5.
6%, respectively, due to falling crude prices. MENAFN02122024000063011010ID1108944999 Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article.
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