Lates News

In the first 20 days of April, South Korea's export growth remained strong, indicating that despite the surge in oil prices and the weakening of the local currency increasing inflation and growth risks, external demand still showed resilience. According to data released by the customs office on Tuesday after adjusting for differences in working days, exports in the first 20 days of April increased by 49.4% compared to the same period last year. This is higher than the 40.4% growth in the same period in March. Unadjusted exports also grew by 49.4% and imports increased by 17.7%, resulting in a trade surplus of $10.4 billion. Strong investment in artificial intelligence and data centers has driven a sharp increase of 182.5% in semiconductor exports, leading to overall export growth. Computer peripherals exports surged by 399%. Petroleum products also contributed to growth, increasing by 48.4% with some boost from rising crude oil prices. However, exports of cars and car parts both declined. These data indicate that despite escalating external risks, South Korea's export engine remains intact.