SEOUL, Aug 1 — South Korean exports in July rose more than expected over a year ago, easing concerns that demand from China and the other major economies may be cooling off quickly.

Overseas sales by Asia’s fourth-largest economy rose 29.6 per cent in July from a year earlier while imports grew 28.9 per cent, data from the Ministry of Knowledge Economy showed today.

Median forecasts from a Reuters survey of analysts were for exports to grow 26.9 per cent and imports to rise 32.0 per cent after growing by a revised 30.1 per cent and 38.2 per cent in June, respectively.

South Korean foreign trade figures are closely watched by investors as the country is the first major exporting economy Asia to report monthly foreign trade figures. The ministry is due to release more details soon. — Reuters