South Korean exports rise for the 4th straight month

South Korea’s exports grew for the fourth consecutive month in February, another sign that Asia’s fourth-largest economy remains on track to recover from the pandemic. spread.

Outbound shipments rose 9.5% from a year earlier to $ 44.81 billion, after a 11.4% gain the previous month, trade ministry data showed Monday. The median forecast of five economists surveyed by the Wall Street Journal was for a 10% increase.

Imports rose 13.9% from a year earlier to $ 42.11 billion after a revised 3.6% increase in the previous month. Trade surplus for the month was $ 2.71 billion. The projections were moderate for a 15.0% increase in imports and a surplus of $ 2.10 billion.

The South Korean economy has overcome the ban on pandemic-driven global disease, backed by a hard recovery in demand for memory chips, cars and petrochemicals.

Exports to major markets such as China, the US and the European Union expanded for the fourth straight month. Shipments to China rose 27% in February, the ministry said.

Write to Kwanwoo Jun at [email protected]

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