According to Yonhap News, data released by the South Korean Ministry of Industry, Trade and Energy showed that South Korea’s exports in April increased by 12.6% year-on-year to US$57.69 billion, the slowest growth rate since February 2021.
In terms of imports, South Korea’s April imports increased by 18.6% year-on-year to US$60.35 billion due to the sharp rise in global energy and raw material prices.
In terms of export categories, exports of semiconductors and petrochemicals increased by 15.8% and 6.8%, respectively. Exports of petroleum and steel products increased by 68.8% and 21.1% respectively. In terms of export destinations, exports to China fell by 3.4%, while exports to the United States and the European Union increased by 26.4% and 7.4%, respectively.
Along with the increase in exports, imports of intermediate products such as semiconductors have also increased substantially. Imports in the memory sector increased by 42.4%, printed circuit boards increased by 42.2%, and imports of petroleum products increased by 34.8%.
Exports in April hit a record high in April, and the cumulative export value from January to April exceeded the US$200 billion mark for the first time.
.
[related_posts_by_tax taxonomies=”post_tag”]
The post South Korea’s April semiconductor exports up 15.8%, memory imports up 42.4% appeared first on Gamingsym.