South Korea Exports Hit Record $87.75B in May on AI Chip Boom
Semiconductor demand and AI infrastructure spending drove the gain, while imports rose 20.8% and the trade surplus reached $26.95 billion, officials said.
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Korea's monthly exports up 53% to record high of $87.8 bil. in May
Korea's exports surged 53 percent from a year earlier to a new monthly high of $87.8 billion in May, driven by the semiconductor supercycle, government data showed Monday. It marked the third consecutive month the country's monthly outbound shipments surpassed the $80 billion mark, according to the Ministry of Trade, Industry and Resources. Imports rose 20.8 percent on-year to $60.8 billion, resulting in a trade surplus of $26.95 billion. Export…
South Korea's exports reached $87.75 billion last May, setting a new all-time monthly record. This was driven by a surge in demand for semiconductors fueled by increased investment in artificial intelligence (AI), which boosted overall exports. However, automobile exports declined due to U.S. tariffs and logistical disruptions caused by the war in the Middle East, while petroleum product exports saw an increase in value but a decrease in volume.
South Korea's exports hit record high on chip demand
South Korea’s exports reached a record monthly high in May, driven by surging global demand for locally manufactured semiconductors, government data showed on Monday, News.Az reports, citing Xinhua. Outbound shipments, which account for about half of the country’s export-dependent economy, rose 53.2% year-on-year to 87.75 billion U.S. dollars in May, according to the Ministry of Trade, Industry and Resources. The figure surpassed the previous re…
South Korea's exports surge 53% in May, driven by AI chip boom
South Korea's economic growth prospects improve, but heavy reliance on semiconductors poses significant risks amid potential market volatility. The post South Korea’s exports surge 53% in May, driven by AI chip boom appeared first on Crypto Briefing.
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