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S Korea export growth seen rebounding in May; inflation tops 5%-Reuters poll

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SEOUL : South Korean export growth is expected to have rebounded in May, but the trade balance likely remained in red, while consumer inflation is seen rising above 5 per cent for the first time in nearly 13 years, a Reuters poll showed on Monday.Outbound shipments were seen 19.3 per cent higher in May th

SEOUL : South Korean export growth is expected to have rebounded in May, but the trade balance likely remained in red, while consumer inflation is seen rising above 5 per cent for the first time in nearly 13 years, a Reuters poll showed on Monday.

Although South Korea's economy is still under pressure from China's COVID-19 lockdown measures and the Ukraine crisis, economists attributed the growth to the calendar effect of two more working days and a recovery in shipments to China. In the first 20 days of this month, the country exported 6.8 per cent more to China than in the same period a year earlier. Full-month exports to China in April were down 3.4 per cent.

 

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