By Cynthia Kim
SEOUL, May 1 (Reuters) – South Korean exports rose for an 11th month in April, beating forecasts, as the global appetite for artificial intelligence infrastructure boosted semiconductor sales to offset jitters from the Middle East conflict.
Exports from Asia’s fourth-largest economy, a bellwether for global trade, jumped 48.0% from a year earlier, higher than a median 45.3% increase forecast in a Reuters poll.
Imports increased 16.7% in April from a year ago, also beating a 14.5% gain tipped in the poll.
The trade figures land just days after chip giants Samsung Electronics and SK Hynix reported blockbuster quarterly profits, in a sign the chip crunch is helping the export-led economy to weather the downside risks stemming from the ongoing conflict involving Iran.
The preliminary trade surplus was at $23.77 billion.
(Reporting by Cynthia Kim; Editing by Christian Schmollinger)
Comments