Korean exports up 3.1% in March, rising for 6th straight month thanks to chips
Published: 01 Apr. 2024, 10:06
Updated: 01 Apr. 2024, 10:14
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- JIN MIN-JI
- [email protected]
![Containers for exports are stacked at a pier in the southeastern port city of Busan in this file photo taken on Jan. 1, 2024. [YONHAP]](https://koreajoongangdaily.joins.com/data/photo/2024/04/01/9eb95065-e74c-46e0-bf9e-69641c9f63eb.jpg)
Containers for exports are stacked at a pier in the southeastern port city of Busan in this file photo taken on Jan. 1, 2024. [YONHAP]
Korea's exports rose for the sixth straight month in March on the back of a robust performance by chips, whose exports saw their highest gains in two years.
Total outbound shipments gained 3.1 percent on-year to $56.5 billion last month, according to data compiled by the Ministry of Trade, Industry and Energy.
Chip exports gained for the fifth consecutive month, totaling $11.7 billion in March.
Imports decreased 12.3 percent on-year to $52.2 billion last month, resulting in a trade surplus of $4.28 billion.
Exports, a key economic growth engine for Korea, rebounded in October after 13 months of an on-year decline. Outbound shipments decreased 7.4 percent on-year in 2023 amid the sluggish performance of chips coupled with global economic uncertainties.
BY JIN MIN-JI [[email protected]]
with the Korea JoongAng Daily
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