South Korea's exports rebounded after a month of decline, showing strong competitiveness despite growing global uncertainty.
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| South Korea's exports in February reached 52.6 billion USD. (Source: Korea Times) |
According to data released by the Ministry of Trade, Industry and Energy of South Korea on March 1, the country's exports in February reached 52.6 billion USD, up 1% compared to the same period last year, while imports increased 0.2% to 48.3 billion USD, resulting in a trade surplus of 4.3 billion USD. This shows that South Korea's exports have recovered from the previous month's decline.
The increase in South Korea's exports was driven by increased sales of automobiles and computers, including solid-state drives (SSDs), according to a report compiled by the Ministry of Trade, Industry and Energy. Of these, automobile exports jumped 17.8 percent to $6.1 billion last month, ending a three-month losing streak. Notably, overseas sales of hybrid vehicles jumped 74.3 percent to $1.3 billion.
Computer exports, including solid-state drives, rose 28.5 percent to $800 million, extending year-on-year gains to the 14th consecutive month, and wireless communications equipment exports jumped 42.3 percent to $1.5 billion. Meanwhile, exports of biological and health products rose 16.1 percent to $1.4 billion, with biopharmaceutical sales surging 45.5 percent.
However, chip exports fell 3% to $9.6 billion last month due to a sharp drop in memory chip prices. Exports of petroleum products fell 12.2% to $3.9 billion due to lower gasoline and diesel prices. Ship and battery exports also fell 10.8% and 9.6% to $1.6 billion and $630 million, respectively.
By destination, in February, exports to India rose 18.6% to a record $1.7 billion, exports to the Middle East rose 19.6% to $1.7 billion, exports to ASEAN rose 12.6% to $9.6 billion on strong sales of chips and petroleum products, recording the second-largest export volume in February, while exports to the US rose 1% to $9.9 billion on strong demand for chips and computers.
Meanwhile, exports to China fell 1.4% to $9.5 billion due to slowing chip sales, while exports to the European Union fell 8.1% to $5.2 billion.
South Korea's Ministry of Trade, Industry and Energy said the country's exports returned to growth just a month after falling in January due to fewer working days. Trade, Industry and Energy Minister Ahn Duk-geun said South Korea's exports are showing strong competitiveness despite growing global uncertainties.
Source: https://baoquocte.vn/dau-hieu-cho-thay-suc-canh-tranh-cua-xuat-khau-han-quoc-306109.html
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