Seoul: South Korea's exports surged 49.4 percent from a year earlier in the first 20 days of this month, driven by strong demand for semiconductors, data showed Tuesday. Outbound shipments reached US$50.4 billion in the April 1-20 period, compared with $33.7 billion tallied over the same period last year, according to the data from the Korea Customs Service. The tally marked the highest figure for the first 20 days of April.
According to Yonhap News Agency, imports increased 17.7 percent on-year to $39.9 billion during the period, resulting in a trade surplus of $10.4 billion. Semiconductor exports spiked 182.5 percent on-year to $18.3 billion, while outbound shipments of computers and related equipment soared 399 percent to $2.2 billion. Exports of petroleum products rose 48.4 percent to $3.2 billion, and ship exports shot up 76.6 percent to $1.8 billion. Steel also gained 8.6 percent to $2.6 billion.
On the other hand, exports of automobiles and auto parts dropped 14.1 percent and 8.8 percent to $3.1 billion and $1.1 billion, respectively. By destination, exports to China expanded 70.9 percent to $11.2 billion, while shipments to the United States climbed 51.7 percent to $9.3 billion. Exports to Vietnam, the European Union, and Japan added 79.2 percent, 10.5 percent, and 40.7 percent to $5.5 billion, $4.4 billion, and $2.1 billion, respectively.
Notably, crude oil imports gained 13.1 percent to $4.8 billion in the first 20 days of April, marking the third consecutive month of an on-year increase amid a rise in international oil prices caused by the ongoing Middle Eastern crisis, the data showed.