Korea's exports experienced a significant surge, rising by 11.1% year-on-year during the first 20 days of April, driven by robust global demand for semiconductors, according to data released by the Korea Customs Service on Monday.
Total outbound shipments reached $35.82 billion in the April 1-20 period, marking a notable increase from the $32.52 billion recorded during the same period last year. On a per-day basis, exports also saw a corresponding rise of 11.1% year-on-year, reaching $2.31 billion.
In contrast, imports grew by 6.1% year-on-year to $38.5 billion over the same period, resulting in a trade deficit of $2.6 billion.
Exports, which serve as a significant driver of economic growth, have demonstrated resilience and momentum since late last year, following a period of prolonged downturn.
The positive trend in exports has been particularly evident in the semiconductor sector, which has experienced strong demand globally. In March alone, exports surged by 3.1% year-on-year to $52.2 billion, marking the sixth consecutive month of growth, largely fueled by robust semiconductor demand.
As the global economy continues to recover and demand for semiconductor products remains high, Korea's export sector is poised to sustain its upward trajectory, contributing to overall economic growth and stability.
#ITCNewsUpdates #BreakingNews #GlobalTrade #ChipDemand #ExportGrowth #EconomicRecovery #NewsUpdate
