January 01, 2025 at 10:44PM
South Korea trade data were released on Wednesday:
Exports in December +6.6% y/y
expected +4%, previous +1.4%
When exports are adjusted for the working-day differences they increased 4.3% y/y in December
vs. +3.7% in November
Some of the reports I am seeing cite the improvement on “demand from China increased while semiconductor sales stayed resilient”.
Exports to China +8.6%
to the US +5.5%
to the European Union +15.1%
More good news for China? Maybe. I got a bit interested in the Chinese PMIs earlier this week re China:
China official National Bureau of Statistics (NBS) December 2024 PMIs – why the long face?
There is another PMI due from China today:
Economic calendar in Asia – Thursday, January 2, 2025 – China manufacturing PMI
Back to South Korea’s trade data:
Imports +3.3% y/y
expected +4.6%, previous
-2.4%
Trade Balance 6.49bn
expected 4.21bn, previous
5.586bn
This article was written by Eamonn Sheridan at www.forexlive.com.