RoK’s exports to Vietnam drop 3.3 percent in March hinh anh 1Illustrative Image (Source:
Hanoi (VNA) - The Republic of Korea (RoK)’s exports to Vietnam sank 3.3 percent in March 2018, according to the Korea Customs Service (KCS). 

The KCS said on April 16 that the RoK’s exports rose 6.1 percent in March from a year earlier, largely thanks to strong demand for semiconductors and petrochemical goods. 

The country's outbound shipments were estimated at 51.6 billion USD in March, compared with 44.6 billion USD a year earlier. 

Meanwhile, the RoK’s imports rose 5.2 percent in the reviewed period to 44.8 billion USD, resulting in a trade surplus of 6.8 billion, it added. 

March 2018 marked the 74th month in a row the RoK’s trade balance has stayed in the black, said the KCS.

Chip exports surged 43.9 percent in March from a year earlier, leading last month's export expansion. Oil product shipments added 1.1 percent, but those for automobile and ships declined 8.1 percent and 30.9 percent respectively.

Export of telecommunication devices, such as smartphone, fell 9.2 percent as local companies increased production in overseas factories.

Shipments to China, the RoK's biggest trading partner, increased 16.6 percent, but those to the US, the second largest overseas market for locally made goods, fell 1 percent.-VNA