Early trade data from South Korea shows slowing export growth

SEOUL - South Korea's early trade data showed that growth in exports has slowed so far in October, indicating the softening of a rally that has been led by global demand for semiconductors.

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The value of shipments adjusted for working-day differences edged up 1 per cent from a year earlier in the first 20 days of October, according to data released on Oct 21 by the customs office. That compared with the 7.5 per cent gain reported earlier for the full month of September.

The monthly trade of South Korea, Asia's fourth-largest economy, is considered a bellwether for world trade, and is the first to be released among major exporting economies.

Its manufacturers play an integral role in a wide range of global supply chains, especially in industries including semiconductors, cars and batteries. At the same time, they rely heavily on imports of energy and raw materials to assemble products destined for shipment overseas.