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RoK’s economic recovery pace maintained by robust exports

The economy of the Republic of Korea (RoK) is maintaining its current recovery pace on the back of brisk exports and increased private spending investment, according to a monthly report of the country’s Strategy and Finance Ministry on April 13.
RoK’s economic recovery pace maintained by robust exports ảnh 1The economy of the Republic of Korea (RoK) is maintaining its current recovery pace on the back of brisk exports and increased private spending investment (Source: english.yonhapnews.co.kr)

Seoul (VNA) – The economy of theRepublic of Korea (RoK) is maintaining its current recovery pace on the back ofbrisk exports and increased private spending investment, according to a monthlyreport of the country’s Strategy and Finance Ministry on April 13.

The report, called the “Green Book”, isbased on the latest economic indicators of such key factors as output, exports,consumption and corporate investment.

Industrial output, consumption andinvestment are maintaining their extension backed by robust exports, and thecurrent recovery pace is also continuing, according to the report.

However, a weaker job market, interest ratehikes in the US and ongoing trade issues are likely to put pressure on Asia’sfourth-largest economy.

Exports of the RoK have been on a steepupside cycle since November 2016, led by a spike in global demand.

Statistics of the Ministry of Trade,Industry and Energy showed that outbound shipments in March soared 6.1 percentyear-on-year thanks to strong sales of memory chips and other key items.-VNA

VNA
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