Macquarie Group Reports Lower-Than-Expected First-Half Profits Amid Commodities Slowdown 
Three lessons the west can learn from China’s economic approach to AI 
Samsung Electronics Refocuses on High-End Chips Amid Profit Dip and AI Demand 
U.S. Economy Shows Resilience Ahead of Elections: GDP Growth Expected 
China's Military Explores Meta’s AI for Advanced Applications, Raising Security Concerns 
U.S. Job Growth Expected to Slow Amid Hurricanes and Strikes 
U.S. Economy Poised for Growth Amid Election Tensions 
South Korea's Export Growth Slows Amid Weakening Global Demand 
Indonesia's Inflation Eases, Core Inflation Surges Amid Economic Challenges 
China's Manufacturing Rebounds in October Amid New Economic Stimulus 
China’s Non-Manufacturing Activity Rises in October, Easing Economic Concerns 
Sumitomo Corp Reports 11% Drop in Net Profit Amid Weak Coal Prices 
Thailand's Economic Growth Projections for 2025: A Positive Outlook 
Productive Meeting Between International Association of Machinists and Boeing 
Fed's Evolving Role: Balancing Market Stability and Moral Hazard 
IMF Urges Japan to Balance Budget as Bank of Japan Signals Gradual Rate Hikes 
Asia's Manufacturing Activity Stagnates Amid Mixed Signals 
South Korea’s Export Growth Drops as Global Demand Slows
South Korea’s export growth slowed sharply in October, rising just 4.6% year-over-year to $57.52 billion, marking the smallest increase in seven months. This downturn reflects weakened global demand and rising U.S. election uncertainty, stalling the nation’s economic recovery.
Key Export Performance Indicators
Exports grew for the 13th consecutive month, although this October increase was smaller than September’s 7.5% growth. According to data from South Korea’s Ministry of Trade, exports averaged a 0.2% drop per working day—the first decline since September 2023. Economists had predicted a stronger 6.9% gain, underscoring an unexpected slowdown.
Sector and Regional Export Trends
While semiconductor exports rose 40.3% to $12.5 billion, they fell short of September’s record high of $13.6 billion. Automotive exports increased 5.5%, but petroleum products plunged 34.9%, pressured by lower global oil prices. Regional trade data revealed a mixed picture: exports to the United States grew modestly by 3.4%, while shipments to China surged 10.9% to a 25-month high of $12.2 billion.
Economic Implications
Despite modest growth in consumer spending, South Korea’s economy remains at risk due to sluggish export performance. Trade Minister Ahn Duk-Geun indicated that the government is assessing the potential impacts of the upcoming U.S. election on South Korea’s economy.
Trade Balance
Imports rose 1.7% in October, yielding a trade surplus of $3.17 billion, down from $6.66 billion in September.
