South Korea's Exports Surge 49.4% in Early April, Semiconductor Shipments Lead Growth

Gate News message, April 21 — South Korea's exports rose 49.4 percent in the first 20 days of April compared to a year earlier, according to customs office data released on April 21, signaling resilient external demand despite rising oil prices and currency headwinds. The figure exceeds the 40.4 percent increase recorded in the same period of March. Unadjusted shipments also grew 49.4 percent while imports gained 17.7 percent, resulting in a trade surplus of $10.4 billion.

Semiconductor exports surged 182.5 percent, driven by strong investment in artificial intelligence and data centers, while computer peripherals soared 399 percent. Oil products contributed 48.4 percent growth, aided by elevated crude prices, though automotive exports declined. Rising oil prices and a weaker won are pushing inflation higher—import prices jumped approximately 16 percent in March, the largest surge in nearly three decades—while potentially weighing on growth. The Bank of Korea's newly appointed governor Shin Hyun Song highlighted these policy challenges, though he downplayed stagflation risks. The central bank's outgoing governor noted that Asia faces heightened vulnerability to Middle East-related energy shocks.

By destination, exports to China jumped 70.9 percent, shipments to the United States rose 51.7 percent, exports to the European Union increased 10.5 percent, and Taiwan-bound shipments climbed 77.1 percent.