Korea’s exports soar 24.2% on year in April

By Ko Jae-man

South Korea’s exports in April jumped 24.2 percent from the same period last year to hit $51 billion, the second-largest since October 2014, thanks to robust overseas shipment of ships and semiconductors, the Ministry of Trade, Industry and Energy said on Monday.

The nation’s exports extended gains for six months in a row for the first time since December 2011. The overseas shipments recorded double-digit growth for the fourth straight month since September 2011.

Daily shipment averaged $2.23 billion, the highest since December 2014. Won-denominated exports expanded 22.6 percent, the highest gain since March 2011.

Outbound shipment of vessels hit an all-time high of $7.13 billion, and semiconductor exports surged 56.9 percent on year to $7.14 billion, the second-biggest figure. Shipment of machineries marked the fourth-largest volume of $4.29 billion.

The nation’s shipments to the European Union (EU) recorded the highest amount of $6.43 billion. Exports to every trading partner except for the Middle East recorded gains in April.

Imports jumped 16.6 percent on year to $37.8 billion. Trade surplus reached $13.3 billion, extending surplus for 63 consecutive months.

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