'Export Korea' Perfect Revival... 40.9% Increase from 1st to 10th of This Month

Export Value from June 1-10 Reaches $17.3 Billion... Semiconductors Up 37.5%, Cars Up 136.9%
Following Last Month's Highest Export Growth Rate in 32 Years, Early This Month's Performance Also Shows a 'Green Light'

[Image source=Yonhap News]

[Sejong=Asia Economy Reporter Kwon Haeyoung] Exports have increased by more than 40% compared to the same period last year as of the 10th of this month. The export growth trend, which began in November last year, is likely to continue for the eighth consecutive month. Following last month's export growth rate reaching the highest level in 32 years, exports this month have also maintained a strong performance, leading to an assessment that Korean exports have fully revived.

According to the Korea Customs Service on the 11th, export value from June 1 to 10 was $17.3 billion, a 40.9% increase compared to the same period last year. As a result, the cumulative export value this year reached $265.7 billion, up 24.4% ($52.15 billion) compared to the same period last year.

The number of working days this month was 8.5, 0.5 days more than 8 days in the same period last year. The average daily export value was $2.03 billion, a 32.6% increase compared to the same period last year.

By product category, exports of passenger cars (136.9%) and petroleum products (70.2%) increased significantly. Semiconductors (37.5%) and wireless communication devices (18.9%) also showed strong performance.

By country, exports increased across the board to China (14.2%), the United States (63.4%), the European Union (85%), Vietnam (41.5%), Japan (39.3%), and the Middle East (39.6%).

Imports from June 1 to 10 amounted to $17.9 billion, a 31% ($4.23 billion) increase compared to the same period last year. The cumulative import value this year was $252.6 billion, up 21.6% ($44.89 billion) compared to the same period last year. Imports of crude oil (163.9%), semiconductors (19.3%), machinery (4.9%), and passenger cars (79.2%) increased, while imports of semiconductor manufacturing equipment (-13.1%) and wireless communication devices (-19.7%) decreased.

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