Exports up 25% by the 10th... 5 Consecutive Months of Growth Signal a Positive Outlook (Update)

(Photo) [Image source=Yonhap News]

[Sejong=Asia Economy Reporter Joo Sang-don] Exports from the beginning of this month to the 10th have increased by more than 25% compared to the same period last year. This suggests that the export growth trend, which began in November last year, is likely to continue for five consecutive months through this month.

According to the export-import status report from March 1 to 10 released by the Korea Customs Service on the 11th, export value reached $16.3 billion, up 25.2% ($3.28 billion) compared to the same period last year. Including this, the cumulative export value for this year recorded $109.1 billion, an increase of 12.5% ($12.09 billion).

The export performance from the 1st to the 10th was not affected by the number of working days, as both last year and this year had 7.5 working days. The average daily export value rose 25.2%, from $1.74 billion in the same period last year to $2.17 billion in March this year.

By product category, compared to the same period last year, semiconductors (25.2%), passenger cars (22.8%), petroleum products (28.1%), automobile parts (15.5%), and wireless communication devices (8.0%) showed increases.

By country, exports increased to China (33.9%), the United States (21.9%), the European Union (EU, 49.0%), Vietnam (7.5%), and Japan (17.7%), while exports to the Middle East (-13.6%) and Singapore (-10.6%) decreased.

Imports amounted to $17.4 billion, up 31.4% ($4.16 billion) compared to the same period last year. Items such as semiconductors (22.8%), crude oil (16.4%), gas (96.9%), machinery (40.7%), petroleum products (21.2%), and precision instruments (25.9%) showed growth. By country, imports increased from China (29.8%), the EU (62.0%), the United States (39.4%), Japan (17.9%), the Middle East (6.2%), and Australia (124.0%), while imports from Vietnam (-4.1%) decreased.

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