South Korea’s exports are showing a robust recovery driven by oil products and semiconductors leading to the fourth consecutive month of export growth.
According to the Korea Customs Service on Tuesday, the country’s exports amounted to 27-point-three billion dollars for the first 20 days of the month, up 14-point-eight percent from the same period a year earlier.
The 20-day period included 14-point-five working days both this year and last year, meaning the average daily exports so far this month also increased by the same margin in a year to one-point-88 billion dollars.
By item, the exports of oil products jumped 62-point-two percent from a year earlier, while the exports of semiconductors increased by 42-point-five percent.
The exports of cars edged up by zero-point-nine percent, while the exports of auto parts and wireless telecommunication devices fell by seven-point-six percent and 29-point-four percent, respectively.
The country’s imports from March first to March 20th also rose by 29-point-four percent from a year earlier to 26-point-six billion dollars.
Accordingly, the trade account posted 760 million dollars worth of surplus during the 20-day period.