Exports projected to rise nearly 13% in Q1 on robust chip demand: Exim Bank

Korea's exports are expected to increase by nearly 13 percent from a year earlier in the first quarter, driven by strong global demand for semiconductors, the state-run Export-Import Bank of Korea said Wednesday.

According to a report by the bank's Overseas Economic Research Institute, first quarter exports are projected to reach around $180 billion, up about 12.85 percent from $159.5 billion a year earlier.

"Though the overall trade environment remains subdued, strong performance in the semiconductor sector has limited the negative impact on overall export conditions," a bank official said.

In January, exports jumped 33.9 percent on year to $65.85 billion, the highest level ever recorded for any January, on the back of solid demand for semiconductors amid the global AI boom.

Yonhap