The economy of South Korea 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 13 April.

The economy of South Korea is maintaining its current recovery pace on the back of brisk exports and increased private spending investment (Source: english.yonhapnews.co.kr)

The report, called the 'Green Book', is based on the latest economic indicators of such key factors as output, exports, consumption and corporate investment.

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

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

Exports of South Korea have been on a steep upside 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% year-on-year thanks to strong sales of memory chips and other key items.

(Source: VNA)