South KoreaTrade data shows exports increased by an average of 2.2% in the first 20 days of this month compared to the same period last year. It is expected that the growth trend will continue and the recovery from the year-long recession will continue. Global trade is becoming increasingly bright.
South Korea is an export powerhouse, supplying a wide variety of goods and components to markets around the world, from semiconductors, smartphones, ships to automobiles. Therefore, South Korea’s exports have become a good indicator of global economic prosperity.
South Korea’s exports last month saw growth for the first time since the end of last year, which is undoubtedly positive for South Korea’s economic growth prospects and global trade. Policymakers are more confident that South Korea’s economic growth will reach 1.4%.
Semiconductor export sales continued to grow by 2.4%, reflecting the decline in semiconductor prices and the key to the export boom. Exports of automobiles increased by 20.1%, and exports of wireless communication products, including smartphones, increased marginally by 0.2%.
CorrectIndiaExport sales to China and the United States have increased significantly, and exports have been heavily invested in, but exports to China still declined by 2.4%.