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在线翻译:
szdaily -> World Economy
South Korea’s exports in longest run of growth in six years
    2017-September-4  08:53    Shenzhen Daily

BOOMING sales of memory chips and electronic displays in August took South Korea’s exports to their longest run of growth in almost six years, highlighting a nascent normalization in global demand.

Shipments to the United States surged 23.2 percent from a year earlier, supported by U.S. demand for memory chips and machinery, potentially undermining South Korea’s position in the renegotiation of a free trade agreement U.S. President Donald Trump has called “a horrible deal.”

“Sales of semiconductors continue to be star performer here, and the most important thing to monitor is whether prices of memory chips hold up through the second half,” said Lee Sang-jae, an economist at Eugene Investment and Securities.

“Exports growth will likely come down to single-digit in November and December this year on base effect, as exports improved towards the end of last year.”

South Korea is the first among major exporting countries to publish its monthly trade figures. Exports to China rose 15.6 percent from a year earlier, posting the longest stretch of sales to its bigger neighbor since 2014, while shipments to the European Union surged 43.2 percent.

Preliminary data showed August’s exports rose 17.4 percent from a year earlier to US$47.1 billion, but imports surged 14.2 percent to US$40.1 billion, the Ministry of Trade, Industry and Energy said.

This produced a US$7 billion trade surplus, down from the US$10.3 billion surplus seen in July.

August exports beat a 14.3 percent expansion seen in a Reuters survey and posted a double-digit growth for an eighth straight month, the longest such expansion since September 2011, adding momentum to economic growth.

Exports of semiconductors posted record sales of US$8.76 billion in August, while OLED screens also marked record overseas sales of US$860 million in the month.

Sales of nine of South Korea’s 13 major export items expanded, the trade ministry said.

(SD-Agencies)

 

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