Seoul: The Republic of Korea’s exports rose 12.7 percent from a year earlier in September on the back of strong demand for semiconductors, reaching an all-time high for the first time in three and a half years, government data showed on Wednesday. Outbound shipments came to US$65.95 billion last month, according to data compiled by the Ministry of Trade and Industry.
According to Emirates News Agency, this marks an all-time high following the previous record set in March 2022 and the fourth straight month of on-year growth. For the third quarter, exports increased 6.6 percent on-year to $185.03 billion, surpassing the $180 billion-mark and setting a new quarterly record.
Imports decreased 8.2 percent on-year to $56.4 billion in September, resulting in a trade surplus of $5.64 billion.