S. Korea's exports rebound to US$52.6 bn in February

South Korea's exports increased 1% last month from a year earlier, rebounding from a decrease the previous month, thanks to an increase in overseas sales of computers and automobiles, data showed Saturday.

Outbound shipments came to US$52.6 billion last month, compared with $52.1 billion a year ago, according to data compiled by the Ministry of Trade, Industry and Energy, and published by Yonhap.

Imports rose 0.2% on-year to $48.3 billion, resulting in a trade surplus of $4.3 billion.

Exports returned to growth just a month after they decreased in January due to a fewer number of business days.

The ministry said the rise in exports came on the back of the robust performance of automobiles and computers, which includes solid-state drives (SSDs).

Automobile exports jumped 17.8% on-year to $6.1 billion last month, snapping their three-month losing streak.

In particular, overseas sales of hybrid cars soared 74.3% to $1.3 billion.

Exports of computers, including SSDs, advanced 28.5% to $800 million to extend their on-year gains to the 14th consecutive month, and exports of wireless communication equipment surged 42.3% to $1.5 billion.

Bio-health exports climbed 16.1% to $1.4 billion, with biopharmaceutical sales, in particular, shooting up 45.5%.

Outbound shipments of chips, however, dropped 3 percent on-year to $9.6 billion last month, due to a steep fall in the price of memory chips.

By destination, exports to China slipped 1.4% to $9.5 billion last month due to sluggish chip sales, while exports to the United States rose 1% to $9.9 billion.

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