S Korea’s Feb exports extend growth on strong chip, auto demand

2 March, 2021 12:00 AM printer

SEOUL: South Korea’s exports expanded for a fourth straight month in February on continued growth in memory chip and car sales, underpinning the trade-led recovery in Asia’s fourth-largest economy.

Exports jumped 9.5 per cent from a year earlier to US$44.81 billion in February, government data showed on Monday, slower than 11.4 per cent growth in January but matching the 9.5 per cent increase forecast by 12 economists in a survey.

Average daily exports, however, surged 26.4 per cent year-on-year, the sharpest in over three years, when eliminating the impact from a three-day drop in working days due to the nation’s Lunar New Year holidays, report agencies.