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Exports Rebound for First Time in 13 Months with 5.1% Growth

Written: 2023-11-01 09:34:47Updated: 2023-11-01 09:36:20

Exports Rebound for First Time in 13 Months with 5.1% Growth

Photo : YONHAP News

Exports increased more than five percent on-year in October to post growth for the first time in 13 months.

According to data from the Ministry of Trade, Industry and Energy on Wednesday, the country’s outbound shipments came to 55-point-09 billion dollars in the cited period, up five-point-one percent on-year.

It marks the first increase after declining for the past 12 months from last October to this September due to a slump in the semiconductor sector, the country’s main export.

Chip exports declined three-point-one percent in October, the smallest drop this year.

Imports fell nine-point-seven percent on-year to 53-point-four billion dollars last month, resulting in a trade surplus of one-point-64 billion dollars to post a surplus for the fifth consecutive month.

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