South Korea's exports rebounded in November, in a latest sign of global trade recovering from the pandemic-induced sluggishness. Outbound shipments rose 4.0% on year to $45.81 billion, following the prior month's revised 3.8% fall, according to data released by the trade ministry Tuesday. The latest reading missed the median forecast for a 5.7% increase from seven economists polled by The Wall Street Journal. Imports slid 2.1% from a year earlier to $39.88 billion after a revised 5.6% decline in the previous month, with the trade surplus coming in at $5.93 billion.
The median forecast was for a 1.3% fall in imports and $7.12 billion in trade surplus. Solid demand for memory chips, flat screens and mobile handsets led the export rebound in November, while shipments of cars also remained strong, the ministry said. Exports to major global markets, including China, the U.S. and the European Union, all expanded on year in November, it said.