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South Korea exports beat forecasts in July on AI chip demand
['Simon Mugo', 'Min Read']
Yahoo Finance - Business Finance, Stock Market, Quotes, News
Exports rose 62.8% from a year earlier to $98.89 billion, exceeding the 59.0% increase forecast in a Reuters poll of economists.
Semiconductor exports jumped 179% as memory-chip prices continued to rise, according to South Korea's trade ministry.
The growth came amid uncertainty surrounding Apple's potential use of Chinese memory chips and the emergence of new AI technology in China.
South Korea recorded a trade surplus of $30.32 billion, down from a record $36.09 billion in June.
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