S. Korea's export growth slows as uncertainty over US election raises risks

SEOUL - South Korea's export growth slowed to a seven-month low in October, missing market expectations, in a sign of cooling global demand and US election uncertainty undermining an already shaky economic recovery.

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Outbound shipments from Asia's fourth-largest economy rose 4.6 per cent from a year earlier to US$57.52 billion (S$76.2 billion) compared with gains of 7.5 per cent the month before and slowing for a third month, official data on Nov 1 showed. A Reuters poll of economists had tipped a rise of 6.9 per cent.

It was the 13th straight month exports grew in annual terms though the increase was the smallest since March.

On average per working day, exports were down 0.2 per cent, their first fall since September 2023.