S. Korea's export logs double-digit growth in 10 days of March

Alsharq Tribune-Otaify 

South Korea's exports logged a double-digit growth in the first 10 days of March owing to soaring demand for semiconductors, customs office data showed Wednesday.

The outbound shipment came to 21.47 billion U.S. dollars in the period, up 55.6 percent compared to the same period of last year, according to Korea Customs Service.

The daily average export jumped 31.7 percent to 3.30 billion dollars in the cited period.

Semiconductor exports surged 175.9 percent on strong demand for chips used in artificial intelligence (AI).

Shipment for oil products, automobiles, steel products, auto parts, precision machinery and home appliances spiked in double figures, but export for ships dropped in double digits.

Imports picked up 21.7 percent from a year earlier to 19.37 billion dollars in the first 10 days of March, sending the trade surplus to 2.10 billion dollars.

Import for chips, semiconductor equipment, machinery, oil products, precision machinery, and coal expanded in double figures, but those for crude oil and natural gas declined in single digits in the 10-day period.