South Korea November exports posting solid gains
Data on the first 20 days of November from South Korea.
- exports +11.1% y/y
- imports +1.3% y/y
- trade balance at provisional $+3.305 bn
- avg exports per working day +7.6% y/y
- semiconductor exports +21.9% y/
- exports to China +7.2% y/y
The bolded 'exports per working day' helps to strip out the impact of holidays and weekends to give a better picture.
While South Korea is often viewed as a leading indicator of the global economy its worthwhile taking this with a grain of sals as Asia has, in general, been handling the COVID-19 outbreak so much better than Europe and the US.