The nation’s exports posted the highest figure ever for the month of January after witnessing double-digit growth.
According to the Ministry of Trade, Industry and Energy on Tuesday, exports climbed more than 15 percent on-year to some 55-point-three billion U.S. dollars last month.
Imports surged 35-point-five percent to 60-point-two billion dollars, resulting in a trade deficit of nearly four-point-nine billion dollars.
Last month marked the first time for exports to top 50 billion dollars in the month of January. The previous record figure for the month was posted in 2018 when the figure stood at 49-point-two billion dollars.
Shipments of petroleum products and steel surged some 88 percent and 50 percent, respectively, while exports of semiconductors grew around 24 percent.
Exports to China rose some 13 percent and by one-point-six percent to the U.S.
The ministry found that imports of crude oil, gas and coal more than doubled last month compared to the same period last year to reach nearly 16 billion dollars due to a sharp rise in energy prices and a surge in demand for such products in the winter season.
Source: KBS World Radio