South Korea’s exports have shown a robust recovery in recent weeks.
According to the Korea Customs Service(KCS) on Tuesday, the exports during the first 20 days of this month stood at 27-point-seven billion dollars, jumping by 26-point-two percent from the same period of last year.
The country’s exports, battered by a global economic slump and low oil prices, appeared to have made a turnaround in November, when exports grew two-point-five percent from a year earlier.
The exports continued an on-year growth, increasing by six-point-four percent in December and 11-point-two percent in January.
The KCS said the exports skyrocketed 72-point-eight percent between February first and February 10th, before slowing down in the next 10 days, albeit maintaining a growing pattern.
The growth in exports this month so far was credited significantly to the base effect and the increase in the number of working days.
The exports between February first and February 20th last year plunged by 18-point-one percent from the same period in 2015.
The number of working days also increased by two more days this month from February of last year, which marked a three-day Lunar New Year holiday.