Export Growth Hits Nearly 4-Year High in April

Korea's export growth reached a nearly 4-year high in April as global demand for oil products, ships and electronic goods remained strong, a government report showed Thursday.

Exports reached a record US$38.02 billion last month, soaring 27 percent from a year earlier, according to the Ministry of Knowledge Economy. The April gain was the highest since August 2004 when the comparable figure was 28.8 percent.

Imports amounted to a record $38.06 billion last month, also up 28.6 percent, resulting in a trade deficit of $4 million.

In the first three months of the year, the country posted a trade deficit of $5.99 billion.

Exports growth was led by increased sales to the Middle East, China and Latin America.