Exports from the 1st to 20th of this month reached $31.1 billion... Up 53.3% YoY (Update)

Korea Customs Service, Export and Import Performance from May 1 to 20

(Photo) [Image source=Yonhap News]

[Sejong=Asia Economy Reporter Joo Sang-don] Export value increased by more than 50% compared to the same period last year until the 20th of this month, continuing the upward trend that began in November last year.

According to the Korea Customs Service on the 21st, export value from May 1 to 20 was $31.1 billion, up 53.3% ($10.81 billion) compared to the same period last year. As a result, the cumulative export value since the beginning of this year reached $228.8 billion, an increase of 22.5% ($42.03 billion).

The number of working days until the 20th of this month was 13 days, 0.5 days fewer than the same period last year (13.5 days). Considering this, the average daily export value was $2.309 billion, an increase of 59.1%.

By item, semiconductors (26.0%), passenger cars (146.0%), petroleum products (149.7%), wireless communication devices (64.0%), automobile parts (221.9%), and precision instruments (42.6%) showed growth.

Regarding exports to major countries, China (25.2%), the United States (87.3%), the European Union (EU, 78.1%), Vietnam (61.1%), and Japan (30.6%) increased, while the Middle East (-14.0%) decreased.

Imports from May 1 to 20 amounted to $31.5 billion, up 36.0% ($8.33 billion) compared to the same period last year. Crude oil (198.8%), semiconductors (17.8%), machinery (15.5%), and passenger cars (59.4%) increased, whereas wireless communication devices (-11.2%) and coal (-6.0%) decreased.

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