SEOUL- South Korea’s trade sector swung back to a surplus in February from a record deficit a month earlier, powered by stronger-than-expected growth in exports, but the recovery faces some risks from Russia’s invasion of Ukraine.
Exports in February expanded 20.6 percent from a year earlier to $53.91 billion, trade ministry data showed on Tuesday, beating a forecast for 18.2 percent growth in a Reuters’ poll and faster than the 15.2 percent gain in January. It also marked the 16th straight month of expansion.
“Continued rise in oil prices and high semiconductor prices boosted exports growth, adding to the solid exports volume,” said Kim Ye-in, an analyst at Korea Investment & Securities.
