South Korea's exports jumped 19.3% on-year in the first 10 days of this month led by petrochemical goods, semiconductors and automobiles, government data showed Saturday.
Overseas shipments from March 1-10 were estimated at US$1.43 million after hitting a five-year high in the previous month, the Korea Customs Service (KCS) said in a statement, cited by Yonhap news agency. "Rising oil prices in recent months have boosted local exporters who had been suffering from slumping oil prices and slowing demand in global markets," a KCS spokesman said. 
Exports of petrochemical goods soared 109.7% in the 10 days from the same period of 2016, it said. Oil price hikes allowed domestic petrochemical companies to sell their products at higher prices and boosted demand in oil-producing countries, helping stimulate the global economy. 
Exports of vehicles and semiconductors increased 50.8% and 32.3%, respectively. The customs office expects the robust growth will continue during the remainder of the month.
Exports posted double-digit on-year growth in January and February. Shipments for the first two months of the year were $8.35 million, up 16% from a year earlier. The country marked a trade surplus for the 61st consecutive month in February, according to the trade ministry.

Source: QNA