SEOUL- South Korea exports logged their sharpest expansion in 32 years in May, marking another robust month of shipments fueled by stronger consumer demand globally as many economies start to reopen.
Surging chip and car shipments helped power a 45.6 percent surge in South Korea’s exports from a year earlier, government data showed on Tuesday, posting the fastest growth since August 1988 and extending their expansion to a seventh month in a row.
Exports growth, however, slightly missed a consensus of a 48.5 percent gain in a Reuters poll.
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.
