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S. Korea's exports soar 9.3 pct in first 20 days of March

According to Yonhap News,

(SEJONG=Yonhap News) South Korea's exports rose 9.3 percent on-year during the first 20 days of March on the back of brisk sales of semiconductors and petrochemicals, customs data showed Wednesday.

The country's outbound shipments reached US$29.7 billion in the March 1-20 period, according to the data from the Korea Customs Service.

The customs office said that daily average exports, which reflect working days, also grew 9.3 percent on-year to $2.05 billion compared to a year earlier.

The country's exports have been growing since November 2016.

By product, outbound shipments of semiconductors surged 44.2 percent, with petrochemical and mobile communication equipment rising 6.2 percent and 12.4 percent, respectively.

On the other hand, ships and electronics saw their shipments decline 9.6 percent and 3.6 percent, respectively.

Exports to the European Union shot up 39.9 percent on-year, with numbers for the United States and China rising 13.5 percent and 11.5 percent over the cited period.

Imports also increased 5.8 percent to some $28.3 billion, resulting in a trade surplus of around $1.3 billion, the data showed.

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Source Text

Source: Yonhap News (Mar. 21, 2018)

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