Korea: Merchandise exports increase in March
Merchandise exports climbed 3.1% year-on-year in March (February: +4.8% year-on-year). Meanwhile, merchandise imports plummeted 12.3% on an annual basis in March (February: -13.1% yoy).
As a result, the merchandise trade balance recorded a USD 4.3 billion surplus in March (February 2024: USD 4.3 billion surplus; March 2023: USD 4.8 billion deficit). Lastly, the trend pointed up, with the 12-month trailing merchandise trade balance recording a USD 21.5 billion surplus in March, compared to the USD 12.4 billion surplus in February.