SEOUL, April 1 (Xinhua) -- South Korea's export kept growing for the 17th consecutive month through March thanks mainly to continued demand for semiconductors, a government report showed Sunday.
Export, which accounts for about half of the export-driven economy, stood at 51.58 billion U.S. dollars in March, up 6.1 percent from a year earlier, according to the Ministry of Trade, Industry and Energy.
The figure was bigger than any March export, topping 50 billion dollars for the first time. The upward trend lasted for 17 months in a row.
The daily average export in March was 2.19 billion dollars, posting the biggest-ever amount in the month.
For the first three months of this year, export expanded 10.3 percent compared with the same period of last year. It kept an upward trend for six straight quarters since the fourth quarter of 2016.
Imports gained 5 percent from a year earlier to 44.72 billion dollars, sending the March trade surplus to 6.86 billion dollars. The trade balance stayed in black for 74 straight months.
Strong demand for locally-made chips continued to lead the export of the Asia's No.4 economy. Outbound shipment of semiconductors surged 44.2 percent in March from a year earlier, surpassing 10 billion dollars for the first time.
Exports of computers jumped 62.5 percent, with those for petrochemicals and oil products managing to rise in the month.
By volume, the March export declined 9.6 percent after falling 2.4 percent in February as export for home appliances, auto parts and telecommunication devices, such as smartphones, lost ground last month.
Exports for automobile and car parts slumped 8.6 percent and 11.1 percent each, with those for telecommunication devices and home appliances posting a double-digit reduction last month.
Despite the weaker demand for those items, higher export prices for oil products and other key export items offset the negative effect.
Growth in the trade volume, caused by recovering manufacturers, and the booming IT industry contributed to the March export maintaining an upward momentum through March, the ministry said.
By region, exports to the European Union (EU) and China, South Korea's biggest trading partner, logged a double-digit increase in March, with those to Japan and the Association of Southeast Asian Nations (ASEAN) growing 9.7 percent and 2.2 percent, respectively.
Shipment to the United States, Vietnam and the Latin American countries fell last month, with those to the Middle East and India posting a double-digit decline.
South Korea's trade with the United States posted a surplus of 1.05 billion dollars in March, down 41.5 percent from a year ago. The country's imports of U.S. beef, orange, system chips and semiconductor equipment increased, while its exports to the United States of automobiles and auto parts declined last month.
