BUSINESS

Korea's exports soar 28.4% in first 20 days of April

By KH디지털2
  • Published : Apr 21, 2017 - 09:59
  • Updated : Apr 21, 2017 - 09:59

South Korea's exports jumped 28.4 percent in the first 20 days of April from a year earlier on robust overseas demand for semiconductors and cars, customs data showed Friday.

Total outbound shipments reached $30.4 billion during the cited period, up from $23.7 billion tallied over the same period last year, according to the data compiled by the Korea Customs Service.

(Yonhap)

The increase was led by a 52.6-percent on-year gain in exports of semiconductors and a 25.8-percent surge in passenger cars.

Exports to China rose 13.9 percent over the 20-day period from a year earlier despite Beijing's move to restrict imports of South Korean goods in retaliation for Seoul's plan to deploy US missile system on its soil. Shipments to the European Union surged 100 percent and those to the United States jumped 13.4 percent on-year.

Meanwhile, imports advanced 16.4 percent on-year to $25.4 billion over the cited period, the data showed.

Consequently, the country logged a trade surplus of $5 billion, up from the previous year's surplus of $1.8 billion.

Exports of Asia's fourth-largest economy have been on a roll since November last year on the back of recovering world trade and rising oil prices.

In March, exports expanded 13.7 percent to mark the fifth consecutive month of on-year growth. This marks the first straight monthly gain since December 2011. (Yonhap)