South Korea's exports for the first 20 days of April showed strong growth, indicating resilient external demand despite rising oil prices and a weakening currency, which have increased inflation and growth risks. According to Jin10, data released by customs on Tuesday revealed that exports, adjusted for working day differences, rose by 49.4% compared to the same period last year. In contrast, the growth rate for the same period in March was 40.4%. Unadjusted exports also increased by 49.4%, while imports grew by 17.7%, resulting in a trade surplus of $10.4 billion.
The surge in exports was driven by robust investment in artificial intelligence and data centers, leading to a 182.5% increase in semiconductor exports. Exports of computer peripherals skyrocketed by 399%. Petroleum products also contributed, with a growth of 48.4%, partly boosted by rising crude oil prices. Meanwhile, exports of cars and automotive parts experienced a decline. These figures suggest that despite escalating external risks, South Korea's export engine remains intact.
Miyuki
