Exports up 24% on-year in Oct. to second-largest monthly figure of $55.55b

(Yonhap)

South Korea's exports spiked 24 percent in October from a year earlier to reach the second-largest monthly figure of $55.55 billion on the back of strong global demand for chips and petroproducts, data showed Monday.

Outbound shipment is just shy of the record monthly figure of $55.83 billion reported the previous month, according to the data compiled by the Ministry of Trade, Industry and Energy. It marked the 12th straight month that the country's exports have extended gains.

Imports surged 37.8 percent on-year to $53.86 billion, resulting in a trade surplus of $1.69 billion. It marked the 18th consecutive month that the country's exports exceeded imports, according to the ministry. (Yonhap)