SEOUL: South Korea exports logged their sharpest expansion in 32 years in May, marking another robust month of shipments fuelled by stronger consumer demand globally as many economies start to reopen.
Asia's fourth-largest economy is the first major exporting economy to report monthly trade data that includes key IT products and the strength of its exports could further build confidence in a global economic recovery. While the pace of shipments growth is set to slow as base effects from the coronavirus fade, the outlook for exports remains bullish."The base effect will keep exports growth strong through June and the pace will slow down in the third quarter. Annual exports growth will probably be double-digit," Park said.
Separate data on the nation's factory activity showed activity extended growth into an eight straight month in May. The IHS Markit purchasing managers' index for May stood at 53.7, compared with 54.6 in April, with a reading above the 50-mark meaning an expansion in activity.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
S Korea May exports at full throttle, set fastest pace in 32 yearsSouth Korea exports logged their sharpest expansion in 32 years in May, marking another robust month of shipments fuelled by stronger consumer ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
North Korea slams end to U.S. guidelines limiting South Korea missile rangeNorth Korea's state media on Monday criticised the recent termination of a pact between the United States and South Korea that capped the development of South Korea's ballistic missiles, calling it a sign of Washington's 'shameful double-dealing.' South Korean President Moon Jae-in announced the abolishment of the joint missile guidelines that had limited the country's development of ballistic missiles to a range of 800 km (500 miles) after his first summit with U.S. President Joe Biden earlier this month. North Korea's official KCNA news agency carried an article by Kim Myong Chol, who it described as an 'international affairs critic,' to accuse the United States of applying a double standard as it sought to ban Pyongyang from developing ballistic missiles.
Source: YahooSG - 🏆 3. / 71 Read more »
Global economic recovery needs green focus, South Korea summit agreesTop officials from 38 countries agreed on Monday that efforts to rebuild economies from the COVID-19 pandemic should be guided by green principles ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
South Korea April factory output unexpectedly declines from MarchSouth Korea's factory output in April unexpectedly declined from March but logged the fastest expansion in almost three years on a year-on-year ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
South Korea says 1m doses of J&J Covid-19 vaccines to arrive this week from US
Source: TODAYonline - 🏆 1. / 99 Read more »
South Korea says 1 million doses of J&J COVID-19 vaccines to arrive this week from USSouth Korea's Prime Minister Kim Boo-kyum said on Sunday that 1 million doses of Johnson & Johnson's (J&J) coronavirus vaccines will arrive this ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »