South Korea’s exports have expanded for the fourth consecutive month, raising expectations that its daily average shipment will likely reach two billion U.S. dollars this month.
 
According to financial and customs authorities, the nation’s daily average shipment dropped from over two billion U.S. dollars in 2014 to roughly one-point-nine billion dollars in January 2015 due to a plunge in oil prices. The figure fluctuated over a course of months and even fell to one-point-seven billion dollars in August last year.
  
The World Trade Organization said that South Korea’s exports stood at 495-point-five billion dollars in 2016, down nearly six percent from the previous year. The volume was the eighth largest among the world’s 71 major exporters, also down two spots from a year earlier.
 
But the daily average is recovering, as exports have been increasing since November last year.
 
The bullish exports are driven by semiconductors and petroleum products. With higher oil prices, the shipment of petroleum products surged more than 72 percent in February. Exports of semiconductors also jumped over 54 percent on growing demand. Exports of steel and petrochemical products have also increased.
 
A government official predicted that the nation’s exports will continue to improve for the time being, with a recovery in advanced and emerging economies.