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South Korea reported exports are surging again in the first 20 days of April. The Bank of Korea at it's most recent policy meeting said the recovery of the Korean economy has strengthened somewhat. Exports have sustained their buoyancy and facilities investment has continued to recover robustly.

South Korea Industry

 

South Korea Exports April 1-20 2021

  • April 1-20 exports +45.4% y/y
  • April 1-20 imports +31.3% y/y
  • Trade balance at provisional $-2.03 bln
  • Customs agency avg exports per working day +36.0% y/y
  • Semiconductor exports +38.2% y/y
  • Exports to China +35.8% y/y

South Korea Exports March 2021

South Korean Exports rose 16.6 percent from a year earlier to USD 53.8 billion in March of 2021, faster than a 9.5 percent increase in the previous month, and above market expectations of a 16.2 percent gain, a preliminary estimate showed. Exports advanced for a fifth straight month, amid strengthening global demand.

South Korea Exports

Highlights

  • Semiconductor chips rose by 8.6 percent,
  • Automobile jumping 15.3 percent.
  • Rechargeable batteries were up 23.5 percent on the back of the green energy drive of the new U.S. administration
  • Bio-health products also surging 43.6 percent. 
  • Ships soared 63.9 percent, as local shipbuilders clinched a series of major deals.
  • Outbound shipment of petroleum products rose 18.3 percent, the first increase in more than two years.

Among key trade partners exports rose,

  • US (9.2 percent),
  • China (26 percent),also South Korea's biggest trading partner,
  • EU (36.6 percent) 
  • ASEAN countries (10.8 percent)
  • Japan declined 2.6 percent
  • Middle East fell 17.5 percent

Source: Statistics Korea, Ministry of Trade, Industry & Energy (MOTIE)

From The TradersCommunity News Desk

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