S. Korea's export volume rises for 6th month in February-Xinhua

S. Korea's export volume rises for 6th month in February

Source: Xinhua

Editor: huaxia

2024-03-27 12:40:45

SEOUL, March 27 (Xinhua) -- South Korea's export volume rose for the sixth successive month due to strong demand for locally-made tech products, the country's central bank data showed Wednesday.

The export volume index expanded 3.8 percent in February from a year earlier, continuing to grow since September last year, according to the Bank of Korea (BOK).

In terms of volume, the outbound shipment for computer, electronic and optical devices, including semiconductors, soared 29.9 percent in February on a yearly basis, keeping an upward trend for the seventh consecutive month.

Export volume for transport equipment, machinery, chemical products, oil products and textiles all reduced in single digits.

The export value index gained 3.7 percent in February compared to the same month of last year.

The import volume index dwindled 9.7 percent in February from a year earlier, maintaining a downward momentum for the eighth straight month on lower demand for industrial and mining products.

The import value index dipped 13.5 percent last month, keeping a downward trend for the 12th straight month.

The net terms-of-trade index for goods, or a ratio of export prices to import prices, increased 4.3 percent in February from a year earlier owing to the faster fall in import prices than export prices.