South Korean exports continued to rise last month, helped by rising demand from the United States, which overtook China as its biggest market for the first time in 20 years.
Global shipments, adjusted for differences in business days, rose 14.5% year-on-year, according to data released by the Trade Ministry on Monday. Major exports rose 5.1%, compared to economists’ expectations of a 3.7% rise. Overall imports decreased by 10.8%, resulting in a trade surplus of $4.5 billion.