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| ▲ This photo, taken on Jan. 21, 2022, shows a port in South Korea's southeastern city of Busan. (Yonhap) |
trade balance-January
Exports up 15.2 pct in January on robust chip shipments
SEOUL, Feb. 1 (Yonhap) -- South Korea's exports soared 15.2 percent in January from a year earlier on the back of brisk demand for chips, data showed Tuesday.
Outbound shipments stood at US$55.32 billion last month, compared with $48 billion a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy.
It is the highest figure for any January since the ministry began compiling the related data in 1956.
Imports surged 35.5 percent to $60.21 billion, resulting in a trade deficit of $4.89 billion.
Last year, the country's exports rose 25.8 percent on-year to reach an all-time high of US$644.54 billion on the back of solid demand for chips and petroleum products amid a global economic recovery.
In December, exports soared 18.3 percent on-year to hit a monthly high of $60.74 billion, marking the 14th consecutive month of growth.
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