South Korea exports seen rising sharply again in April on chip boom: Reuters poll
South Korean exports are expected to have risen 45.3% in April from a year earlier, driven by a surge in chip demand, according to a Reuters poll of 20 economists. Import growth and consumer inflation are also seen quickening due to high oil prices amid the Middle East conflict.
South Korean exports likely rose for an 11th straight month in April, driven by a surge in chip demand. A Reuters poll of 20 economists forecast a 45.3% year-on-year increase, slightly weaker than March's 49.2% rise. Chipmaker SK Hynix announced a record quarterly profit, and Samsung Electronics projected a significant increase in quarterly earnings. Exports of semiconductors jumped 182.5% in the first 20 days of April, while petroleum product exports rose 48.4%. Imports are expected to have risen 14.5% and consumer inflation is seen accelerating to 2.6% in April. South Korea will report April trade figures on May 1 and inflation data on May 6.
This content was automatically generated and/or translated by AI. It may contain inaccuracies. Please refer to the original sources for verification.