South Korea March exports up for sixth month on chip sales; miss estimates

SEOUL : Sturdy query for South Korean chips helped Asia’s fourth-largest economic system post export negate for a sixth consecutive month in March, albeit at a tempo a little bit slower than anticipated, data showed on Monday.

Exports rose 3.1 per cent from the same duration a three hundred and sixty five days before $56.56 billion, missing a develop of 5.2 per cent tipped in a Reuters ballotof economists.

A month earlier, exports rose 4.8 per cent on three hundred and sixty five days, hinting at restoration in economic momentum even as user sentiment remained fragile as a result of larger manufacture prices.

Imports declined 12.3 per cent in March from the same month a three hundred and sixty five days earlier to $52.28 billion, deeper than a 8.1 per cent tumble seen within the ballotnonetheless easing a little bit from a 13.1 per cent fall in February.

Foreign sales of chips grew for a fifth successive month, rising 35.7 per cent and logging the most easy efficiency by mark in two years, commerce ministry data showed.

Rising query for artificial intelligence-linked memory is driving semiconductor sales, because the realm’s two biggest makers of memory chips – Samsung Electronics and SK Hynix – flagged bettering chip query for the three hundred and sixty five days forward.