April 20, 2024
Economy
Korea’s exports up 6% in March
[THE INVESTOR] Korea’s exports rose 6.1 percent in March from a year earlier, largely thanks to strong demand for semiconductors and petrochemical goods, the customs office said on April 16.
The country’s outbound shipments were tallied at US$51.6 billion in March, compared with US$44.6 billion a year earlier, according to the Korea Customs Service.
The March tally marks the 17th straight month that the country’s monthly exports increased.
Imports rose 5.2 percent over the cited period to US$44.8 billion, resulting in a trade surplus of US$6.8 billion, it added.
Chip exports surged 43.9 percent in March from a year earlier, providing a big boost to last month‘s export growth. Shipments of petrochemical goods advanced 1.1 percent, but those for automobile and ships dropped 8.1 percent and 30.9 percent, respectively.
Shipments to China advanced 16.6 percent, but those to the United States, the second-largest overseas market for locally made goods, fell 1 percent. Exports to Vietnam also sank 3.3 percent over the cited period, the office said.
By Song Seung-hyun and newswires (ssh@heraldcorp.com)
