Citigroup Forecasts Continued Chip-Driven Export Growth for South Korea in April

Deep News08:11

Analysts from Citigroup indicated that South Korea's exports in April are expected to maintain strong growth, primarily driven by semiconductor sales. The analysts highlighted that chip exports during the first 20 days of April reached a record high. They project that the country’s total export value for the month will increase by 46.3% compared to the same period last year, following a revised growth rate of 49.2% in March. Imports for April are anticipated to rise by 12.9% year-on-year, resulting in a trade surplus of $24.8 billion, compared to a revised surplus of $26.24 billion in March. In their report, the analysts stated, "Despite rising energy prices, historically strong current account surpluses are likely to persist, supported by semiconductor exports." The official trade data for April is scheduled to be released next Friday.

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