SEOUL (BLOOMBERG) - South Korea's early trade data showed exports continued to rise in January, as demand for tech products stayed resilient amid a global resurgence of the coronavirus.

Exports rose 11 per cent in the first 20 days of the month from a year earlier, the customs office reported on Thursday (Jan 21). Average daily shipments increased at the same pace so far in January, compared with gains of 7.9 per cent during December and 6.4 per cent in November.

Exports to China, the country's largest overseas market, jumped 19 per cent during the period. South Korea's overall semiconductor shipments increased 12 per cent.

The report, closely watched as an early indicator of global trade, suggests demand is on the mend despite some countries placing stricter curbs on activity. Vaccinations kicking off in major economies such as the US and Europe are adding to hopes of a normalization of global trade this year, though it will take a significant time until inoculation is widespread enough to bolster activity across the board.

South Korea is expecting an improvement in tech exports to support the economy this year. The government sees a 10 per cent increase in chip exports, and an 8.6 per cent rise in overall shipments, as the key drivers that would put the economy back on track for growth above 3 per cent.

Exports to the US rose 19 per cent during Jan 1-20, while shipments to the European Union rose 16 per cent and those to Japan fell 11 per cent.

Total shipments of cars rose 16 per cent, while oil products decreased 46 per cent. Sales of computer devices fell 1.1 per cent.

South Korea's overall imports rose 1.5 per cent in the first 20 days of January. The data for the full month is released on Feb. 1.