403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
South Korea Reports 36.7 Percent Surge in Exports
(MENAFN) South Korea's exports posted sharp double-digit growth in the first ten days of April, propelled by an extraordinary surge in semiconductor demand tied to the global artificial intelligence boom, data from the country's customs authority showed Monday.
Outbound shipments reached $25.21 billion between April 1 and 10, a 36.7 percent jump compared to the same period last year, according to the Korea Customs Service. The daily average export figure mirrored that pace, climbing 36.7 percent to $2.97 billion.
Semiconductors led the charge by a wide margin, with chip exports exploding 152.5 percent to $8.57 billion, driven by fierce global appetite for AI-grade processors. Oil product shipments also advanced strongly, rising 38.6 percent, while steel products, ships, and mobile devices all posted double-digit gains.
Not all sectors shared in the momentum, however. Automotive exports slipped 6.7 percent, with auto parts, precision machinery, and home appliances also retreating during the ten-day window.
On the import side, South Korea brought in $22.11 billion worth of goods — a 12.7 percent increase year-on-year — as purchases of chips, semiconductor manufacturing equipment, natural gas, and coal all climbed in double digits. Imports of machinery, oil products, and mobile devices, by contrast, edged lower.
The net result was a trade surplus of $3.10 billion for the period, underscoring the resilience of South Korea's export-driven economy despite broader global trade uncertainties.
Outbound shipments reached $25.21 billion between April 1 and 10, a 36.7 percent jump compared to the same period last year, according to the Korea Customs Service. The daily average export figure mirrored that pace, climbing 36.7 percent to $2.97 billion.
Semiconductors led the charge by a wide margin, with chip exports exploding 152.5 percent to $8.57 billion, driven by fierce global appetite for AI-grade processors. Oil product shipments also advanced strongly, rising 38.6 percent, while steel products, ships, and mobile devices all posted double-digit gains.
Not all sectors shared in the momentum, however. Automotive exports slipped 6.7 percent, with auto parts, precision machinery, and home appliances also retreating during the ten-day window.
On the import side, South Korea brought in $22.11 billion worth of goods — a 12.7 percent increase year-on-year — as purchases of chips, semiconductor manufacturing equipment, natural gas, and coal all climbed in double digits. Imports of machinery, oil products, and mobile devices, by contrast, edged lower.
The net result was a trade surplus of $3.10 billion for the period, underscoring the resilience of South Korea's export-driven economy despite broader global trade uncertainties.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
More Story
Comments
No comment