(MENAFN- Qatar News Agency) oul April 21 - South Korea's exports in the first three months of the year rose to a new first-quarter high on growing shipments to European countries and emerging markets including India the government said Monday. The country's overall exports reached US$138.2 billion in the January-March period up 2.2% from the same period last year according to the South Korean Ministry of Trade Industry and Energy. The figure marks the highest-ever amount for the first quarter. The trade volume over the cited period also rose to a new high as imports gained 2.1% on-year to $132.4 billion according to South Korea's (Yonhap) News Agency. The rise in exports was partly attributed to growing shipments to EU countries which posted a double-digit on-year growth for three consecutive months since January. Shipments to EU member states spiked 23.4% on-year in January followed by a 10.6% and 15.1% surge respectively in the two following months according to the ministry. "Exports to the EU in the first quarter jumped 16.3% on-year to $13.53 billion while benefits from the country's free trade agreement with the EU increased along with the effects of an economic recovery in Europe" it said in a press release. The ministry also cited growing shipments to emerging market countries. Shipments to the so-called Fragile Five in the first quarter rose 5% on-year to $10.92 billion. The Fragile Five -- Turkey Brazil India Indonesia and South Africa -- refers to a group of nations believed to be most vulnerable to the United States' tapering of its economic stimulus measures.
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