South Korea’s exports continued to surge in April, led by semiconductor shipments, suggesting the trade-dependent economy remains resilient despite risks from the Middle East conflict.
Semiconductor shipments, which account for about a quarter of the country’s total exports, surged on demand from global technology companies building artificial-intelligence infrastructure.
The result highlights how AI-related demand is helping high-tech economies weather volatility linked to the conflict in the Middle East.
Earnings at major memory-chip makers such as Samsung Electronics and SK Hynix hit record highs in the first quarter and are expected to continue posting fresh highs this year even as the Iran conflict fuels a surge in input costs.
The Ministry of Trade, Industry and Energy on Friday said exports rose 48.0% compared with the same period a year earlier to $85.89 billion in April, following a revised 49.2% increase in March.
The figure exactly matched the median forecast from a Wall Street Journal survey of economists.
Imports rose 16.7% from a year earlier to $62.11 billion, resulting in a trade surplus of $23.77 billion in April, preliminary data showed.
Strong memory-chip shipments continued to drive export growth, offsetting weakness in other categories, such as auto and steel.
