By Cynthia Kim SEOUL, March 1 (Reuters) – South Korea’s exports extended their growth streak to a ninth month in February as strong chip sales continued to underpin overall shipments even as uncertainties regarding U.S. tariffs cloud the outlook. Exports from Asia’s fourth-largest economy, a bellwether for global trade, increased 29.0% in February from a […]
Business
South Korea Feb exports beat forecasts, rise for ninth month
Audio By Carbonatix
By Cynthia Kim
SEOUL, March 1 (Reuters) – South Korea’s exports extended their growth streak to a ninth month in February as strong chip sales continued to underpin overall shipments even as uncertainties regarding U.S. tariffs cloud the outlook.
Exports from Asia’s fourth-largest economy, a bellwether for global trade, increased 29.0% in February from a year earlier to $67.45 billion, trade data showed, beating the median forecast of a 24.0% gain in a Reuters poll of economists.
Imports gained 7.5%, slower than the 13.0% estimated in the poll.
The preliminary trade balance stood at $15.51 billion in February.
“Semiconductor exports jumped 160.9% to again record their highest monthly performance ever and exceeded $20 billion in value for three consecutive months, driven by strong demand thanks to AI investment and a surge in memory prices,” the trade ministry said in a statement.
(Reporting by Cynthia Kim; Editing by Edmund Klamann)