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S.Korea Nov 1-10 exports surge 20.1% y/y on strong chip sales, improved global demand

SEOUL, Nov 11 (Reuters) - South Korea’s exports for the first 10 days of November surged on strong chip sales and solid demand from major trading partners, official data showed on Wednesday, despite continued worries over a resurgence in the coronavirus pandemic.

Exports for the first 10 days of the month jumped 20.1% from the same period a year earlier, according to Korea Customs Service data, sharply reversing a 28.9% plunge in the Oct. 1-10 period. Imports also rose 7.8%.

Data also showed overseas sales of semiconductors, the nation’s top export item, surged 31.9% during the Nov. 1-10 period, while shipments to China, the country’s biggest trading partner, climbed 14.5%.

Reporting by Joori Roh; Editing by Tom Hogue