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S. Korea’s exports up 12.6% in April, trade deficit widens on high energy prices


Cargo ships anchored at Busan Port (Yonhap)

Cargo ships anchored at Busan Port (Yonhap)

South Korea’s exports rose 12.6 percent in April from a year earlier on the back of brisk demand for chips and petroleum products, but the trade deficit widened on soaring global energy prices, data showed Sunday.

Outbound shipments stood at $57.69 billion last month, up from $51.23 billion a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy.

It is the highest tally for any April since the ministry began compiling related data in 1956. The previous record was set in April 2021.

Imports grew 18.6 percent on-year to $60.35 billion on soaring global energy prices, leading the country to post a trade deficit of $26.6 billion, the data showed. (Yonhap)





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