SEOUL: South Korea’s exports are expected to have risen in March for a sixth straight month, as strong demand for semiconductors continued to lead growth, a Reuters poll showed on Thursday (Mar 28).
Exports out of Asia’s fourth-largest economy are forecast to have increased 5.2 per cent in March from a year earlier, a median estimate of 10 economists showed in the survey.
That would come after a 4.8 per cent rise in February, which was the slowest in the current sequence of annual gains that started in October, and was distorted by an unfavourable comparison base from the timing difference in the Lunar New Year holidays.
South Korea is the first major exporting economy to report monthly trade figures each month, providing an early glimpse into the state of global demand.
“A semiconductor-led exports growth is continuing, while a robust trend is also seen in exports of ships and home appliances,” said Chun Kyu-yeon, economist, Hana Securities.
“It is likely US-bound exports will continue to be strong, with China shipments also improving,” Chun said.
