S. Korea's exports exceed $80bln for second month in April
South Korea’s exports stayed above 80 billion US dollars for a second straight month in April, reaching 85.89 billion US dollars, up 48 percent from a year earlier, according to the Ministry of Trade, Industry and Resources. This was the country’s second-highest monthly total after March’s record, Qazinform News Agency cites Yonhap.
Imports rose 16.7 percent to 62.11 billion US dollars, resulting in a 23.77 billion US dollars trade surplus, also the second month in a row above 20 billion US dollars.
The surge was driven mainly by semiconductors, with chip exports jumping 173.5 percent to 31.9 billion US dollars amid strong demand for AI-related products and rising memory prices. Computer exports also soared over 500 percent to a record 4.08 billion US dollars, while petroleum products increased nearly 40 percent in value due to higher oil prices despite lower shipment volumes caused by export restrictions.
Other sectors like electrical equipment, cosmetics, and agro-fisheries also posted solid growth. However, auto exports fell 5.5 percent due to shipping disruptions and Korean carmakers' increased production in the U.S. in response to Washington's tariff policies.
By region, exports to China, the U.S., ASEAN, and the EU all grew strongly, while shipments to the Middle East dropped due to the ongoing conflict.
Previously, it was reported South Korea mulls extending the crude swap system with private firms until July.
