Korea: Merchandise trade surplus widens in June
Latest reading: In June, the trade balance was USD +36.2 billion, following a USD +27.0 billion reading in the previous month. Over the last 12 months, the trade balance summed to USD +188.3 billion.
Merchandise exports surged 70.9% in year-on-year terms in June, following a 53.4% increase in the previous month. Shipments rose for the 13th straight month, with semiconductor exports soaring 199.5%, driven by strong demand for memory chips. Computer exports also surged more than 300%. Merchandise imports rose 30.1% in annual terms in June, coming on the back of 20.7% growth in the prior month. June’s reading was the strongest since May 2022.