South Korea’s exports extended on-year gains to the 11th straight month in August, data showed Sunday, driven by the strong performance of semiconductors.

Outbound shipments rose 11.4 percent on-year to US$57.9 billion last month, according to the data compiled by the Ministry of Trade, Industry and Energy.

Imports added 6 percent on-year to $54 billion, resulting in a trade surplus of $3.83 billion. South Korea has been maintaining a trade surplus for 15 consecutive months.

Outbound shipments decreased 7.4 percent on-year in 2023 amid the sluggish performance of chips coupled with global economic uncertainties.

Source: Yonhap News Agency