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Export prices up for 4th month in March

SEOUL, April 14 (Yonhap) — South Korea’s export prices rose in March, marking the fourth straight monthly gain amid a modest recovery in exports, central bank data showed Wednesday.

The country’s export price index, in terms of the local currency, rose 3.3 percent in March from the previous month, according to the preliminary data from the Bank of Korea (BOK).

The reading marked the fourth consecutive month of an on-month rise. In February, the index rose 3.1 percent on-month.

From a year earlier, the index rose 5.6 percent, the BOK data showed.

South Korea’s exports grew 16.6 percent on-year in March, helped by solid demand for chips and autos, to extend their gains for the fifth consecutive month.

Exports came to US$53.8 billion last month, compared with $46.1 billion a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy.

Imports rose 18.8 percent to $49.6 billion, resulting in a trade surplus of $4.17 billion. It marked the 11th consecutive month for the country to post a trade surplus.

South Korea’s import prices also gained 3.4 percent on-month in March, mainly due to rising oil prices, the BOK said.

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