SEOUL, Aug 1 Reuters South Korea39;s exports grew at a faster annual pace in July as robust demand from the United States offset weak sales to China, though the trade and broad economic outlook was clouded by slowing global growth amid rapidly rising borrowing costs.

Outbound shipments rose 9.4 in July from a year earlier to 60.70 billion, matching the forecast in a Reuters poll, trade ministry data showed on Monday, after a 5.2 rise in the previous month.

The stronger exports growth provides some relief to policymakers, as a global shift towards tighter policy to fight inflation has stoked worries about a steep economic downturn.

There were worries of a steep slowdown, but thanks to high export prices and solid demand from the United States, the export growth managed to continue a decent trend, especially considering fewer working days, said Park Sanghyun, chief economist at HI Investment and Securities.

However, setting aside the demand from the United States, outlook for Europe does not seem as bright, and China39;s economy is not recovering as strongly as expected, which will keep the growth rate in the singledigit level for the time being.

The International Monetary Fund last week warned that downside risks from high inflation and the Ukraine war were materializing and could push the world economy to the brink of recession if left unchecked. 

The latest trade figures from Asia39;s fourthbiggest economy showed exports grew 14.1 on average per working day, as…