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S.Korea Aug exports to U.S., China up; sales to EU down
September 1, 2013 / 1:35 AM / 4 years ago

S.Korea Aug exports to U.S., China up; sales to EU down

SEOUL, Sept 1 (Reuters) - South Korea’s exports to the United States, China and Southeast Asia grew faster in August compared with a year earlier, more than making up for weak demand from Europe and Japan, data showed on Sunday.

Shipments to the United States rose by 17.9 percent in August in annual terms, while exports to China grew by 12.8 percent, the Ministry of Trade, Industry and Energy said.

Shipments to the Association of Southeast Asian Nations rose by 15.6 percent, while those to the European Union fell by 8.8 percent in annual terms during August.

That fall reversed July’s 6.6 percent rise and was in line with uneven exports to the region so far this year.

August exports to Japan fell by 13.2 percent in dollar terms from a year earlier, continuing a trend of weakening shipments there because of the yen’s decline against the dollar.

Earlier on Sunday, the ministry said August’s exports grew by 7.7 percent from a year earlier, beating market expectations and posting the strongest performance in seven months.

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