June Exports Also Booming... Daily Average of 2.03 Billion Dollars
Exports from the 1st to 10th of this month total $17.3 billion... a 40.9% increase YoY
[Sejong=Asia Economy Reporter Kwon Haeyoung] South Korea's exports showed strong growth at the beginning of this month following the largest increase in 32 years last month. As the global economy, which had been stagnant since COVID-19, rapidly recovers, demand for key export items such as semiconductors and automobiles has increased, pushing the average daily export value above $2 billion in early June. The export growth trend that began in November last year is likely to continue for eight consecutive months.
According to the Korea Customs Service on the 12th, exports from June 1 to 10 amounted to $17.3 billion, a 40.9% increase compared to the same period last year. As a result, the cumulative export value for this year reached $265.7 billion, up 24.4% ($52.15 billion) from the same period last year.
The number of working days this month was 8.5, 0.5 days more than the 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%).
Hot Picks Today
"Stocks Are Not Taxed, but Annual Crypto Gains Over 2.5 Million Won to Be Taxed Next Year... Investors Push Back"
- "Not Jealous of Winning the Lottery"... Entire Village Stunned as 200 Million Won Jackpot of Wild Ginseng Cluster Discovered at Jirisan
- Bull Market End Signal? Securities Firm Warns: "Sell SK hynix 'At This Moment'"
- Andong, Venue of Korea-Japan Summit, to Be Promoted as a Top Japanese Tourist Destination
- "Even With a 90 Million Won Salary and Bonuses, It Doesn’t Feel Like Much"... A Latecomer Rookie Who Beat 70 to 1 Odds [Scientists Are Disappearing] ③
Imports from June 1 to 10 amounted to $17.9 billion, up 31% ($4.23 billion) compared to the same period last year. The cumulative import value for this year reached $252.6 billion, a 21.6% ($44.89 billion) increase from 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.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
