South Korea’s exports up 5.75% in July

SEOUL – South Korea’s exports grew 5.7% y/y in July, higher than market expectations of 3.8% and growth of 2.5% in June. Imports also registered strong growth of 5.8% y/y, up from 4.1% in the previous month.

ANZ says the ‘two speed’ nature of the South Korean economy appears to have continued in July as external demand remained buoyed. “In H2, we believe Korea’s external outlook will continue to improve. We expect exports to grow by 5.9% in H2 on economic recovery in the US and China, and that they will rise 4.2% for full-year 2014.  www.live.anz.com (ATI).