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Financial News: South Korea Has $4.67 Billion Trade Deficit In

South Korea Has $4.67 Billion Trade Deficit In July

07/31/2022 - 20:06:00 (RTTNews)

(RTTNews) - South Korea posted a merchandise trade deficit of $4.67 billion in July, Statistics Korea said on Monday.

That missed expectations for a shortfall of $4.06 billion following the downwardly revised $2.58 billion deficit in June (originally a $2.47 billion deficit).

Exports were up 9.4 percent on year, matching expectations following the downwardly revised 5.2 percent increase in the previous month.

Imports spiked an annual 21.8 percent, exceeding expectations for an increase of 20.7 percent and up from 19.4 percent a month earlier.

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