South Korea reported a trade surplus for the 17th straight month in October.The nations trade surplus widened to USD 3.17 billion in October from USD 1.56 billion in the same month a year ago, data by
South Korea’s Oct trade surplus widens to $3.17 billion
South Korea reported a trade surplus for the 17th straight month in October.
The nation’s trade surplus widened to USD 3.17 billion in October from USD 1.56 billion in the same month a year ago, data by the Ministry of Trade, Industry & Energy showed on Friday.
In comparison, a consensus of analyst estimates had pointed to a surplus of USD 4.23 billion.
Total exports rose 4.6% year-on-year to USD 57.52 billion in October, marking the 13th straight month of growth, driven by robust semiconductor demand. Market consensus had pointed to a 6.9% YoY growth.
At the same time, total imports rose 1.7% year-on-year to USD 54.35 billion in October, while marking the 4th straight month of growth.
The South Korean Won was 0.51% weaker on the day against the US Dollar, with the USD/KRW currency pair last trading at 1,379.19 ahead of the key US Non-Farm Payrolls report and presidential election outcome.
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