Korea’s exports up 6.1% in April 1-10, imports gain faster at 25%

2017.04.11 16:28:12 | 2017.04.11 16:51:36

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South Korea’s exports in the first 10 days of April reached $11.2 billion, up 6.1 percent from the same period last year, thanks to robust semiconductor shipment, according to the Korea Customs Service on Tuesday.

The exports in March grew 13.7 percent on year and extended the gains for the fifth straight month. The last time exports kept strong so long was in December 2011.

Daily shipment averaged $1.6 billion, up 6.1 percent from the same period last year with the same number of working days.

By item, semiconductor exports recorded the largest on-year gain of 51.8 percent, followed by automobiles with 23.3 percent. Shipment of wireless communication devices such as mobile phones increased 7.8 percent on year. But outbound shipment of petroleum products fell 5.9 percent and that of car parts down 21.0 percent.

By nation, exports to Vietnam jumped 50.8 percent, Japan by 24 percent, and the United States by 18.0 percent. Shipment to China also increased by 10.0 percent.

The nation’s imports reached $12.3 billion, up 24.8 percent from a year-ago period, to deliver a trade deficit of $1.1 billion.

By Kim Gyu-sik

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