Trade Balance
South Korea's March exports hit $86.13 billion, all-time high
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South Korea's exports reached $86.13 billion in March, breaching the $80 billion mark for the first time ever. According to data from the Ministry of Trade, Industry and Resources, this represents a 48.3 percent increase from a year earlier. Record semiconductor shipments drove the surge.
China’s top Communist Party journal, Qiushi, has reaffirmed the push to rebalance trade, stating that a worsening global environment of rising protectionism and geopolitical tensions adds urgency to shifting from an “unsustainable” export-driven growth model. The commentary notes profound changes in conditions shaping China’s trade balance, with deep-seated weaknesses in the foreign trade sector remaining pronounced.
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South Korea's exports surged 50.4 percent year-on-year to $53.3 billion in the first 20 days of March, driven by strong semiconductor demand. Korea Customs Service data showed a trade surplus of $12.1 billion for the period.