Overview
- Customs data for the first 20 days of April show exports up 49.4% year over year to US$50.4 billion, with imports up 17.7% to US$39.9 billion and a trade surplus of US$10.4 billion.
- Semiconductor shipments rose 182.5% to US$18.3 billion, computer peripherals climbed 399% to US$2.2 billion, and petroleum products gained 48.4% to US$3.2 billion, while autos and auto parts declined.
- By market, sales to China increased 70.9% to US$11.2 billion and to the United States grew 51.7% to US$9.3 billion, with gains also reported for the European Union and Vietnam.
- Crude oil imports rose 13.1% in early April as global prices climbed during the Middle East crisis, following a roughly 16% jump in March import prices that marked the sharpest rise in decades.
- Bank of Korea leaders warned that higher energy costs and a weaker currency could keep inflation elevated, and the finance ministry promised new financial support and guidance to help exporters manage exchange-rate and logistics strains.