Exports to rise 13% in Q1 on robust chip demand: Exim Bank
Containers are stacked at a port in Busan, Jan. 28. Yonhap
Korea's exports are expected to increase by nearly 13 percent from a year earlier in the first quarter, driven by strong global demand for semiconductors, the state-run Export-Import Bank of Korea (Exim Bank) said Wednesday.
According to a report by the bank's Overseas Economic Research Institute, first-quarter exports are projected to reach around $180 billion, up about 12.85 percent from $159.5 billion a year earlier.
"Though the overall trade environment remains subdued, strong performance in the semiconductor sector has limited the negative impact on overall export conditions," a bank official said.
In January, exports jumped 33.9 percent on-year to $65.85 billion, the highest level ever recorded for any January, on the back of solid demand for semiconductors amid the global artificial intelligence (AI) boom.