April 19, 2024
Economy
Korea’s exports rise 11% in Jan.
[THE INVESTOR] South Korea’s exports rose 11.2 percent in January from a year earlier, the government said on Feb. 1.
According to the Ministry of Trade, Industry and Energy, outbound shipments came to US$40.3 billion last month, up from US$36.2 billion tallied in 2016.
It is the first time since January 2013 that the nation’s exports have posted double-digit growth. Also for the first time in two years and nine months, the monthly export volume expanded for three months in a row.
The upturn is driven by a rise in exports of key industrial goods, such as semiconductors and petrochemicals, the ministry said. Exports of semiconductors hit an all-time high of US$6.41 billion in January, while overseas sales of petrochemicals came to US$3.52 billion, the biggest since December 2014.
Imports expanded 18.6 percent on-year to US$37.1 billion in January. Trade surplus came to US$3.2 billion, marking the 60th consecutive month of a surplus.
(theinvestor@heraldcorp.com)
According to the Ministry of Trade, Industry and Energy, outbound shipments came to US$40.3 billion last month, up from US$36.2 billion tallied in 2016.
It is the first time since January 2013 that the nation’s exports have posted double-digit growth. Also for the first time in two years and nine months, the monthly export volume expanded for three months in a row.
The upturn is driven by a rise in exports of key industrial goods, such as semiconductors and petrochemicals, the ministry said. Exports of semiconductors hit an all-time high of US$6.41 billion in January, while overseas sales of petrochemicals came to US$3.52 billion, the biggest since December 2014.
Imports expanded 18.6 percent on-year to US$37.1 billion in January. Trade surplus came to US$3.2 billion, marking the 60th consecutive month of a surplus.
(theinvestor@heraldcorp.com)
