SEOUL (Reuters) -South Korea’s exports rose in June on the back of strong tech demand, after falling in May for the first time in four months, trade data showed on Tuesday, though shipments to the U.S. and China remained weak amid tariff uncertainty.
Exports from Asia’s fourth-largest economy, an early bellwether for global trade, rose 4.3% from the same month last year to $59.80 billion, marginally weaker than the median 4.7% rise tipped in a Reuters poll of economists.
In May, exports dipped 1.3%, as shipments to the U.S. and China dropped more than 8% each on downward pressure from U.S. President Donald Trump’s tariff threats.
Shipments to the U.S. fell 0.5% last month, extending losses for a third consecutive month, while those to China were also down for a second month, dropping 2.7%. Exports to the European Union rose 14.7%, while those to Southeast Asian countries gained 2.1%.
“Volatility in U.S. tariff policy and economic recovery uncertainty are expected to persist in the second half,” South Korean Industry and Trade Minister Ahn Duk-geun said, promising an all-out response to U.S. tariffs.
South Korea will seek an extension to the 90-day pause in U.S. tariffs that is set to expire next week, as negotiations are likely to continue past the deadline set between Seoul and Washington, a senior South Korean trade official said on Monday.
Exports of semiconductors extended gains for a fourth straight month by rising 11.6%, but it was the slowest in the streak. Automobiles rose 2.3%, as robust electric-vehicle demand in Europe offset losses in U.S. sales, according to the ministry.
Imports rose 3.3% to $50.72 billion, bringing the monthly trade balance to a surplus of $9.08 billion, the biggest since September 2018.
(Reporting by Jihoon Lee; Editing by Tom Hogue and Muralikumar Anantharaman)
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