SEOUL: South Korea’s exports accelerated in August, towed by solid demand for memory chips, petrochemicals and other major items, with the trade ministry seeing only a limited impact from the coronavirus Delta variant across the region.

       Exports rose 34.9% in August from a year earlier, accelerating from 29.6% in July but falling short of 35.7% growth predicted in a Reuters survey.

       Imports soared 44% from a year earlier, the fastest growth since May 2010 and quicker than a 38.1% rise in July. That brought the trade balance to a US$1.67bil (RM6.92bil) surplus.

       Breakdown of yesterday’s data showed exports of semiconductors, petrochemicals and cars jumped 43.0%, 81.5% and 16.9%, respectively, while those of wireless devices, biohealth products and secondary batteries soared 62.2%, 17.1% and 10.9%, respectively.

       By destination, overall exports to China, the United States and European Union rose 26.8%, 38.1% and 41.6%, respectively. “Despite concerns about production disruptions due to the spread of the recent Delta variant, its impact on exports is seen limited so far,” the ministry said in a statement. ― Reuters