South Korea’s early trade data show export momentum still strong
South Korea's export growth remained strong in early April, driven by semiconductor and oil product exports. However, rising oil prices and a weaker currency pose risks to inflation and growth.
South Korea's export growth was robust in early April, with exports rising 49.4% from a year earlier in the first 20 days of the month. Semiconductor exports surged 182.5%, driving overall shipments amid strong investment in artificial intelligence and data centres. Exports to key markets, including China and the US, also increased significantly. However, rising oil prices and a weaker currency pose risks to inflation and growth. The Bank of Korea's governor highlighted the policy challenge ahead, warning against excessive volatility in the currency. South Korea's import prices jumped 16% in March, underscoring the impact of external shocks on the domestic economy.
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