S. Korea’s exports rise 36.7% in first 10 days of April amid strong chip demand

Exports totaled 25.2 billion US dollars in April 1-10, up from 18.4 billion US dollars a year earlier, according to the Korea Customs Service. This marks a record for the first 10 days of a month, exceeding the previous 21.7 billion US dollars set last month.

Exports of semiconductors surged 152 percent to 8.6 billion US dollars, while exports of petroleum products jumped 38.6 percent to 1.8 billion US dollars year-on-year.

Chip exports accounted for 34 percent of the country's total exports over the cited period, up 15.6 percent from the same period last year.

Automobile exports declined by 6.7 percent to 1.7 billion US dollars, while shipments of auto parts fell 7.3 percent year-on-year to 654 million US dollars.

Exports to China jumped 63.8 percent, and shipments to the U.S. rose 24 percent despite tariffs.

Imports grew 12.7 percent to 22.1 billion US dollars, resulting in a 3.1 billion US dollar trade surplus. Rising crude oil imports, up for a third straight month, were attributed to higher global prices and a weaker Korean won.

Earlier, it was reported Saudi Arabia agrees to prioritize oil shipments to South Korea.