February 3, 2023

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South Korea exports continue their rocketing surge (May data +49% y/y)

1 min read

South Korea May 2021 data:

  • exports +45.6% vs yr earlier (Reuters poll +48.5%)
  • imports +37.9% vs yr
    earlier (Reuters poll +40.5%)
  • trade balance at
    provisional $+2.93 bln vs $+0.434 bln in April
  • exports to China
    +22.7% y/y
  • semiconductor
    exports +24.5% y/y
  • avg exports per
    working day +49.0% y/y

Exports growth
sharpest in 32 yrs

Each time I post y/y data I have to mention the impact of comparison to 2020, the midst of the pandemic and response, i.e. there is a ‘base effect’. 

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