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S.Korea's exports volume grows for 6 months

SEOUL
2017-05-26 14:06

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South Korea's exports volume grew for six straight months, indicating a recovery of the export-driven economy, central bank data showed Friday.

The exports volume index came in at 142.01 in April, up 4.9 percent from a year earlier, according to the Bank of Korea (BOK).

The index kept an upward trend since November last year.

The BOK froze its benchmark interest rate at an all-time low of 1.25 percent Thursday, but the BOK forecast this year's economic growth rate would surpass its outlook unveiled last month.

The higher-than-forecast growth rate was based on the recent recovery of exports, which account for about half of the South Korean economy.

The April exports expansion was led by strong demand for semiconductors and display panels. Exports for coal and oil products tumbled 22.8 percent as many of relevant companies entered the maintenance period for facilities.

The export value index jumped 15.9 percent in April from a year ago. Meanwhile, the import volume index increased 4.7 percent in the cited period. In terms of value, imports surged 16.9 percent.

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