Exports Rise for 10th Straight Month in August

  • Arirang News

    September 26, 2017 09:32

    Korean exports gained for the 10th straight month in August. The Bank of Korea's provisional estimate on Monday showed that an index measuring export volume was at nearly 142.3, up 8.5 percent on-year for its biggest increase in six months.
    The BOK attributed the rise to booming chip exports, which rose more than 20 percent. Auto exports rose 26 percent as carmakers explored new markets, while shipments to China kept decreasing due to Beijing's unofficial boycott of the deployment of a Terminal High-Altitude Area Defense battery here from the U.S.
    The central bank expects both exports and domestic consumption to improve in the third quarter as the global economy shows signs of picking up.
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