South Korea economy keeps going up as exports flourish

South Korea economy keeps going up as exports flourish

In October, soaring memory chip sales enabled South Korea exports to enjoy record 12 consecutive months of surge. That’s solid evidence that Asia's number four economy is actually stepping up a gear.

While shipments surge slowed from September, as a matter of fact, October managed to outpace September as for average exports per working day, boasting brisk business activity.

As October exports revealed, export fundamentals still appear to be sturdy enough. Considering that the low-base effect relieved, October managed to fare well, as Stephen Lee told, an economist at Meritz Securities.

Exports headed north 7.1% on-year, which is far below bumper ascend of 35% in September, although average exports per working day accounted for $2.5 billion, thus outperforming September's outcome of $2.35 billion, as government data disclosed on Wednesday.

The annual Chuseok holiday was celebrated by South Korea from October 2 through October 9. As a result, the Asian country reduced the number of working days from 23.5 to 18.

Similar

Canadian CPI

Inflation data is the most important indicator that affects the central bank’s monetary policy.

Popular

Asian shares tumble with Japan markets shut

On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…

Greenback surges as yields soar

On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera