S. Korea's Export Grows For 7th Month In April

SEOUL, (APP - UrduPoint / Pakistan Point News - 1st May, 2024) South Korea's export grew for the seventh successive month in April due to strong global demand for locally-made tech products and automobiles, government data showed Wednesday.

Export, which accounts for about half of the export-driven economy, rose 13.8 percent over the year to 56.26 billion U.S. Dollars in April, according to the Ministry of Trade, Industry and Energy.

The outbound shipment kept an upward trend since October last year. The daily average export gained 11.

3 percent to 2.45 billion dollars last month.

Import expanded 5.4 percent from a year earlier to 54.73 billion dollars in April, sending the trade surplus to 1.53 billion dollars. The trade balance stayed in black for the 11th consecutive month since June last year.

Of the country's 15 major export items, 13 products saw an increase in outbound shipment.

Semiconductor shipment mounted 56.1 percent over the year to 9.96 billion dollars in April, maintaining an upward momentum for the sixth straight month.