South Korean Exports of Digital Goods Up in March
Apr 6, 2005
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South Korean exports of digital electronics products rose 5.2 percent in March from a year ago, a turnaround from negative growth in February, the region's government said.
Overseas shipments of digital electronics goods climbed to U.S. $8.69 billion last month from $8.26 billion a year earlier, the Ministry of Commerce, Industry, and Energy said.
The figure was a monthly record for March, and the increase followed a 1.7 percent drop in February. Imports of digital electronics products rose 5.7 percent from a year ago to $4.85 billion in March.
The ministry said March's rise came despite the won's appreciation against the U.S. dollar, which makes South Korean exports more expensive.
"The gain shows that South Korean products are gaining recognition abroad and do not rely solely on price competitiveness to win over consumers," said Byun Jong-rip, head of the digital electronics industry division at the ministry.
According to the ministry, last month's solid growth in exports resulted from strong sales of high-quality products like LCD-TVs and other audio and video equipment in countries such as the United States.
LCD-TV exports to Canada soared 738.7 percent, with shipments to Hong Kong spiking 489.1 percent. Exports to the U.S. reached $654 million, an annual increase of 59.7 percent. (Yonhap)
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