South Korea’s export value hits all-time high in March

According to the data released by the Export and Import Division of South Korea's Ministry of Knowledge Economy, the country's exports in March rose 30.3 percent year on year, reaching an all-time high of $48.6 billion, despite unfavorable overseas conditions including the political turmoil in Libya and the earthquake in Japan. China accounted for 25.8 percent of all exports, making it South Korea's number one export destination for the month.
 
South Korea's exports of steel in March rose 34.1 percent year on year to $2.94 billion, while its ship exports reached a value of $5.49 billion, climbing by 70.1 percent year on year. However, the country's exports of ships to the European Union and ASEAN
countries declined.
 
In the meantime, in March this year South Korea's automobile exports surged 24.8 percent to $3.66 billion, while its general machinery exports came to $4.52 billion with an increase of 53.8 percent, both compared to March 2010.