Exports gain 11.1 pct from April 1-20 on robust chip sales

South Korea's exports rose 11.1 percent on-year in the first 20 days of April on surging global demand for semiconductors, data showed Monday. Outbound shipments reached US$35.82 billion in the April 1-20 period, compared with $32.52 billion tallied a year earlier, according to the data from the Korea Customs Service. Per-day exports also advanced 11.1 percent on-year to $2.31 billion. Imports grew 6.1 percent on-year to $38.5 billion during the first 20 days of April, resulting in a trade deficit of $2.6 billion. Exports, a key economic growth engine, have been on a solid recovery track since late last year after a yearlong downturn. In March, exports advanced 3.1 percent on-year to $52.2 billion, the sixth consecutive monthly gain, on the back of strong demand for semiconductors. Source: Yonhap News Agency