SEOUL, May 1: South Korea’s exports rose 9.7 per cent year-on-year to $13.29 billion in April, marking the first year-on-year gain after 13 months of contraction, officials said on Wednesday.

The turnaround was brought by the rising shipment of steel, automobiles and telecom equipment, the ministry of commerce, industry and energy said.

“Exports turned to positive growth on rises in export prices of LCDs, steel and petrochemical goods and stronger exports of automobiles and telecom equipments,” the ministry said in a statement.

In April, imports rose 12.1 per cent year-on-year to $12.57 billion.

The trade surplus fell to $724 million in April from $1.42 billion in March.

In the three months to March, exports dropped 10.9 per cent year-on-year to $35.77 billion.

Despite negative factors such as the won’s depreciation and unstable microchip prices, exports are expected to maintain moderate growth in the second quarter, the ministry said.

In April, auto exports rose 17.8 per cent year-on-year to $1.2 billion, telecom equipment surged 39.6 per cent to $930 million, and semiconductors increased 9.3 per cent to $1.39 billion.

Steel exports dropped 8.3 per cent to $550 million, and textiles fell 8.7 per cent to $1.26 billion.—AFP