Korean Exports Fully Revived... 81.2% Increase from 1st to 10th of This Month

Export value of $12.5 billion from 1st to 10th... 7 consecutive months of increase 'Positive Signal'
Car exports up 358.4%, semiconductor exports up 51.9%

[Image source=Yonhap News]

[Sejong=Asia Economy Reporter Kwon Haeyoung] Exports until the 10th of this month have increased by more than 80% compared to the same period last year. The main export items, automobiles and semiconductors, led the export growth. Since the export increase began in November last year, it is highly likely to continue for the seventh consecutive month, indicating that South Korean exports have fully revived.

According to the Korea Customs Service on the 11th, export value from May 1 to 10 was $12.5 billion, an increase of 81.2% compared to the same period last year. Accordingly, the cumulative export value this year reached $210.1 billion, up 21.2% ($36.81 billion) compared to the same period last year.

The number of working days this month was 5.5 days, 0.5 days more than the same period last year (5 days). The average daily export value was $2.27 billion, an increase of 64.7% compared to the same period last year.

By item, exports of passenger cars (358.4%) and automobile parts (316.6%) increased significantly. Petroleum products (128.2%), wireless communication devices (97.2%), and semiconductors (51.9%) also showed favorable trends.

By country, exports increased across the board to China (45.5%), the United States (139.2%), the European Union (123.2%), Vietnam (87.2%), Japan (51.1%), and the Middle East (5.9%).

Imports from May 1 to 10 amounted to $14.6 billion, an increase of 51.5% ($4.98 billion) compared to the same period last year. The cumulative import value this year was $201.5 billion, up 19.2% ($32.43 billion) compared to the same period last year. Imports of crude oil (202.0%), semiconductors (24.1%), petroleum products (184.7%), and passenger cars (209.9%) increased, while wireless communication devices (-3.2%) and coal (-19.3%) decreased.

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