Korea likely to recover $2b daily exports mark in March

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South Korea’s average daily exports will likely exceed $2 billion this month buttressed by growing shipments of semiconductors, petroleum and petrochemical products, government officials said Monday.

Exports of petroleum and petrochemical goods reached $6.7 billion and those for semiconductors $6.4 billion in February. The figures represent a 72.3 percent and 54.2 percent surge, respectively, from a year earlier.

(Yonhap)

“We expect export growth will continue for the time being as both advanced and emerging economies are improving on the whole,” an official from the Ministry of Strategy and Finance said.

Daily exports rose $1.96 billion in February, up from $1.89 billion in November and $1.84 billion in December, according to the data compiled by the ministry.

The country last achieved the $2 billion mark in daily shipments in September 2015 with $2.01 billion.

Daily exports fell to the lowest level in years to hit $1.61 billion in January last year affected by nosediving oil prices.

South Korea’s exports declined 5.9 percent to $495.5 billion last year from a year earlier, the eighth biggest in the world.

South Korea was the sixth largest exporter the previous year. (Yonhap)

Source: The Korea Herald > Business > Economy

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