Daily Times

South Korea’s export volume kept growing for 11 straight months owing to the continued recovery in global demand from the COVID-19 pandemic shock, central bank data showed on Wednesday. The export volume index stood at 120.79 in July, up 7.3 percent from a year earlier, according to the Bank of Korea (BOK). It continued to increase for 11 months since September last year as global demand recovered from the pandemic. The export value index surged 31.4 percent in July from a year ago amid the higher price for raw materials, especially crude oil. The export value for coal and oil products and the primary metal spiked 73.9 percent and 47.6 percent each. In terms of volume, import advanced 9.1 percent last month, keeping an upward trend for 11 months in a row. The import value index soared 38.2 percent in July on a yearly basis on the back of the expensive crude oil.