Industry data released on Sunday indicated that Republic of Korea’s car exports are expected to have hit a record $37 billion for the first half of the year, Yonhap News Agency reported.
\nPreliminary data from the industry ministry and the Korea International Trade Association indicates that automobile exports increased 3.8% year over year from January to June to reach $37.01 billion, the highest amount for the first half of any year.<\/p>\n
The previous record, set at $35.65 billion in 2022, was increased by 46.5% year over year. Car exports have increased positively year over year for four years running in the first half of 2021\u20132022.<\/p>\n
According to Yonhap News Agency, which cited central bank data on Friday, the Republic of Korea recorded its biggest current account surplus in 32 months in May thanks to a sharp increase in the trade surplus and higher dividend income.<\/p>\n
After a $290 million deficit in April, the nation’s current account surplus reached $8.92 billion in May. This is the highest surplus since September 2021, when it was $9.51 billion<\/p>\n
After posting a $5.11 billion surplus in April, the nation’s goods account recorded a $8.75 billion surplus in May. In May, exports increased 11.1% year over year to $58.95 billion, while imports decreased 1.9% to $50.20 billion.<\/p>\n
US job Market Slowing Down as the 4.1% Unemployment Rate Rises\u00a0<\/a><\/p>\n