South Korea's Exports Surge in April Despite Economic Challenges

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.