South Korean exports are expected to have extended their growth streak in July, though the pace of expansion is likely to have softened from the near-half-century highs recorded earlier in the year.
The data points to a second-strongest monthly gain in the current winning streak, driven primarily by sustained strength in the semiconductor sector.
The moderation in growth rate reflects a normalization from the exceptional acceleration seen in recent months, rather than a reversal in demand.
Artificial intelligence-related chip shipments continue to provide the primary tailwind for outbound trade, supporting the broader export engine despite the deceleration in year-on-year growth rates.
This development aligns with recent upgrades to South Korea’s growth forecasts by global banks, which have cited the robust acceleration in semiconductor exports as a key driver for the economy.
The resilience of the chip sector has been a central theme in the country’s trade performance, with earlier data showing sharp increases in outbound shipments during the first three weeks of June.