This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-39770284
The article has changed 2 times. There is an RSS feed of changes available.
Previous version
1
Next version
Version 0 | Version 1 |
---|---|
South Korea shrugs off tension with sharp rise in exports | South Korea shrugs off tension with sharp rise in exports |
(about 2 hours later) | |
Despite political and regional tensions, South Korea's economy is proving resilient. | Despite political and regional tensions, South Korea's economy is proving resilient. |
Figures show exports are growing at the fastest rate in six years. | Figures show exports are growing at the fastest rate in six years. |
Demand for high-tech memory chips helped boost exports by 24% in April compared with a year earlier, the sixth month in a row that exports have risen. | Demand for high-tech memory chips helped boost exports by 24% in April compared with a year earlier, the sixth month in a row that exports have risen. |
Exports to the US rose by a relatively modest 3.9% over the past 12 months, but to the European Union by a soaring 64.9%. | Exports to the US rose by a relatively modest 3.9% over the past 12 months, but to the European Union by a soaring 64.9%. |
US trade review | US trade review |
South Koreans are going to the polls next week, following the impeachment of President Park Geun-hye over a corruption scandal last year. | South Koreans are going to the polls next week, following the impeachment of President Park Geun-hye over a corruption scandal last year. |
The 65-year-old former president, who remains in custody, was formally charged last month. | The 65-year-old former president, who remains in custody, was formally charged last month. |
Tension has also escalated in the region over North Korea's nuclear programme, with US sending warships to the region. | Tension has also escalated in the region over North Korea's nuclear programme, with US sending warships to the region. |
But South Korea's export performance has continued to improve, boosting its trade surplus with the rest of the world to $13.25bn. | But South Korea's export performance has continued to improve, boosting its trade surplus with the rest of the world to $13.25bn. |
US President Trump has warned that he is reviewing the US's free trade deal with South Korea. | US President Trump has warned that he is reviewing the US's free trade deal with South Korea. |
However the trade data may ease the pressure on Seoul, as exports to the US rose only 3.9% in April, leaving South Korea's trade surplus with the US lower in April than a year ago. | However the trade data may ease the pressure on Seoul, as exports to the US rose only 3.9% in April, leaving South Korea's trade surplus with the US lower in April than a year ago. |
As well as semi-conductors, South Korea's exports were boosted by oil products, machinery and household electronics. | As well as semi-conductors, South Korea's exports were boosted by oil products, machinery and household electronics. |
Due to the nature of the industry, shipbuilding, which rose 103% in April, tends to provide an uneven impact on exports. However even without that spike, other exports rose nearly 17%. |
Previous version
1
Next version