S. Korea’s Exports Extend Gains to 12th Straight Month in September

South Korea's exports extended on-year gains to the 12th straight month in September, data showed Tuesday, on the back of robust shipments of chips. Outbound shipments rose 7.5% on-year to $58.7 billion last month, according to the data compiled by the Korean Ministry of Trade, Industry and Energy. Imports added 2.2 percent on-year to $52.1 billion, resulting in a trade surplus of $6.66 billion. South Korea has been maintaining a trade surplus for 16 consecutive months, South Korea's News Agency (Yonhap) reported. By sector, exports of semiconductors moved up 37.1% to $13.6 billion, maintaining an on-year growth for 11 consecutive months. Outbound shipments of automobiles also gained 4.9% to $5.5 billion, marking the highest amount for any September. "The government plans to thoroughly address export-related risks, considering geopolitical uncertainties in the Middle East and the strike at ports on the US eastern coast," Korean Industry Minister Ahn Duk-geun said in a statement. "In case of a contingenc y, the government will operate a special monitoring team with the private sector to minimize the negative fallout on exports," Ahn added. Source: Qatar News Agency