S. Korea’s export keeps growing for 5th month in March

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Islamabad

South Korea’s export kept growing for the fifth month in March thanks to recovery in global demand, especially for semiconductors, automobiles and petrochemicals, a government report showed Thursday.

Export, which accounts for about half of the export-driven economy, amounted to 53.83 billion U.S. dollars in March, up 16.6 percent from a year earlier, according to the Ministry of Trade, Industry and Energy.

It was the highest March increase since data began to be compiled, marking the biggest growth in 29 months.

The outbound shipment continued to go up for five straight months with the expansion of 3.9 percent in November 2020, 12.4 percent in December 2020, 11.4 percent in January and 9.5 percent in February this year respectively.

Global demand mounted as the vaccination campaigns for the COVID-19 pandemic were launched across the world. The daily average export, which excludes the working-day effect.—APP