Thursday, 21 October 2021 01:49 GMT

S.Korea's export spikes record high in July

(MENAFN)According to a government report, South Korea's export spiked a once-a-month record high in July due to the global demand recovery from the global outbreak.

The Ministry of Trade, Industry and Energy showed that the outbound consignment hit 29.6 percent from 2020 to USD55.44 billion in July, the highest-ever export from the time when data started listing in 1956, hitting the preceding high of 55.12 billion dollars registered in September 2017.

Moreover, import increased 38.2 percent over the year to reach 53.67 billion dollars in July, surpassing the trade to 1.77 billion dollars, while the trade balance remained in the black for consecutively 15 months.

For four months in a row, the export rose to over 20 percent, continuing to increase for consecutively nine months since November 2020.

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