February Exports Increased but Operating Days-Based Decline of 3.2%...Semiconductors Up 37.8% (Update)

[Image source=Yonhap News]

[Asia Economy Reporter Moon Chaeseok] Exports in February increased by nearly 70% compared to the previous year, thanks to an increase in the number of working days. However, the average daily export value actually decreased.

According to the Korea Customs Service on the 11th, the export value from January 1 to 10 (provisional clearance basis) was $10.7 billion, up 69.4% ($4.38 billion) compared to the same period last year.

This was due to semiconductor exports increasing by 37.8% compared to the same period a year ago. Petroleum products (26.2%), passenger cars (114.5%), wireless communication devices (34.8%), and ships (138.6%) all increased steadily. LCD devices decreased by 39.5%.

By country, most major countries increased, including China (36%), the United States (68.1%), Vietnam (59.8%), the European Union (170.4%), Japan (28.9%), Hong Kong (130.1%), and the Middle East (63%).

The number of working days from the 1st to the 10th was 7 days, three days more than the 4 days during the same period last year. Considering this, the average daily export value was $1.53 billion, down 3.2% from $1.58 billion in the same period last year.

This content was produced with the assistance of AI translation services.