April Export Value Hits $51.19 Billion... All-Time High (Update)

Ministry of Industry, April Export and Import Trends

Six Consecutive Months of Growth Since November Last Year
Export Growth Rate 41.1%... Largest Increase in 10 Years
Semiconductors Up 30.2% · Automobiles Up 73.4%

[Image source=Yonhap News]

[Sejong=Asia Economy Reporter Ju Sang-don] The export volume in April reached $51.19 billion, marking the highest amount ever recorded for April. Exports increased by more than 41% compared to the same period last year, setting the largest growth rate in 10 years.

According to the Ministry of Trade, Industry and Energy on the 1st, April exports amounted to $51.19 billion, up 41.1% from the same period last year. The export growth trend that began in November last year (3.9%) has continued for six consecutive months. This is the first time in 3 years and 1 month that exports have increased for six consecutive months. The growth rate of April exports is the highest since January 2011.

The cumulative export amount from the beginning of this year to April ($197.7 billion) also set a record high. The previous highest was $194.9 billion recorded in 2018.

All 15 major export items showed an increasing trend. In particular, 13 items including semiconductors and automobiles recorded double-digit growth rates. Semiconductors increased by 20.3%, marking 10 consecutive months of growth. The export amount ranked second highest ever for April ($9.34 billion). Automobiles saw double-digit growth for four consecutive months (73.4%) and surpassed $4 billion for two consecutive months for the first time in six years. Petrochemicals achieved the second highest export amount ever with $4.66 billion, following March of this year ($4.75 billion). Petroleum products recorded $2.88 billion, increasing for two consecutive months for the first time in 2 years and 4 months, reaching the highest level in 1 year and 3 months. Biohealth and secondary batteries increased for 20 and 8 consecutive months respectively. Both items set record high export amounts for April.

By region, exports to all nine major regions increased for the first time since January 2018. Exports to China, the United States, and the European Union (EU) all recorded the highest export amounts ever for April.

April imports amounted to $50.8 billion, up 33.9% from the same period last year. The trade balance recorded a surplus of $390 million, achieving a surplus for 12 consecutive months.

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