South korea: South Korea's monthly exports experienced a significant increase, rising nearly 50 percent from the previous year, driven by record-breaking shipments of semiconductors, as per government data released on Wednesday. Outbound shipments reached $86.13 billion last month, marking a 48.3 percent year-on-year growth, as reported by South Korea's Ministry of Trade, Industry and Resources.

According to Qatar News Agency, imports also saw an increase of 13.2 percent year-on-year, totaling $60.4 billion in March. This resulted in a trade surplus of $25.74 billion. Semiconductor exports alone surged 151.4 percent year-on-year, reaching an unprecedented $32.83 billion, surpassing the $30 billion mark for the first time. The ministry attributed this robust performance in the chip sector to high memory chip prices and sustained global demand, driven by substantial investments in artificial intelligence (AI) data centers.

Car exports also experienced a modest rise of 2.2 percent year-on-year, amounting to $6.37 billion. The demand for eco-friendly models, including electric vehicles (EVs) and hybrid cars, helped counterbalance shipment disruptions caused by the Middle Eastern crisis. In terms of export destinations, shipments to China soared by 64 percent year-on-year to $16.5 billion, while exports to the United States increased by 47.1 percent to $16.34 billion, primarily due to strong demand for chips and computers. Exports to the European Union also saw an increase of 19.3 percent, reaching $7.47 billion.

However, exports to the Middle East declined significantly, dropping 49.1 percent year-on-year to $900 million, seemingly impacted by the ongoing conflict in the region.