Export-Import Bank: "Q3 Exports Increase About 11% Year-on-Year"

The Export-Import Bank of Korea's Overseas Economic Research Institute announced on the 5th that exports in the third quarter of this year are expected to increase by around 11% compared to the same period last year, reaching approximately 175 billion dollars.

According to the 'Evaluation of Export Performance in the Second Quarter of 2024 and Forecast for the Third Quarter' released by the bank on the same day, exports in the upcoming third quarter are predicted to continue growing as the export leading index rises compared to the same period last year, due to improvements in the economies of export destination countries.

A bank official stated, “The export growth trend is expected to continue as the semiconductor industry, which accounts for a large portion of our exports, improves and global merchandise trade volume increases.” However, they added, “If the global economic recovery is delayed due to prolonged high inflation causing reduced consumption and sluggish economic recovery in China, the export growth rate may be reduced.”

This content was produced with the assistance of AI translation services.