South Korean exports jumped to a record high in July as overseas demand for chips and biohealth products extended export growth to a ninth consecutive month, supporting an economic recovery facing headwind from the country’s worst COVID-19 outbreak yet.
Exports rose 29.6% in July from the same month a year earlier to $55.43 billion, the largest amount since South Korea began compiling relevant data in 1956, the trade ministry said on Sunday.
The pace of growth, however, slowed from 39.8% in June on a fading base effect from a pandemic-induced slump last year. The figure was also short of the 30.2% median of 16 analyst estimates in a Reuters survey.
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