S. Korea’s Exports Rise 11.2% in January

Seoul, South Korea's exports rose 11.25 in January from a year earlier on brisk overseas sales of semiconductors and petrochemicals, the government said Wednesday.

Outbound shipments came to US$40.3 billion last month, up from $36.2 billion tallied a year earlier, according to the Ministry of Trade, Industry and Energy.

It is the first time since January 2013 that the nation's exports have posted double-digit growth. Also for the first time in 33 months, exports expanded for three months in a row, state news agency (Yonhap) reported.

The upturn is driven by a rise in exports of key industrial goods, such as semiconductors and petrochemicals, the ministry said.

Exports of semiconductors hit an all-time high of $6.41 billion in January, while overseas sales of petrochemicals came to $3.52 billion, the biggest since December 2014.

By region, South Korea's exports to China climbed 13.5% on-year last month, marking the first double-digit growth in 41 months.

Meanwhile, imports expanded 18.6% on-year to $37.1 billion in January.

January's trade surplus came to $3.2 billion, marking the 60th consecutive month of a surplus.

Source: Qatar News Agency