Exports up 29.5% by the 20th of this month... 8 Consecutive Months of Growth 'Smooth Sailing' (Update)

KCS Reports Export and Import Status from June 1 to 20

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[Sejong=Asia Economy Reporter Joo Sang-don] Exports have increased by nearly 30% as of the 20th of this month. If this trend continues, the export growth that began in November last year is likely to continue for eight consecutive months.

On the 21st, the Korea Customs Service (KCS) announced that export value from June 1 to 20 reached $32.4 billion, a 29.5% ($7.38 billion) increase compared to the same period last year.

Reflecting this, the cumulative export value reached $280.8 billion, up 24.1% ($54.51 billion) compared to the same period last year.

The number of working days from June 1 to 20 this year was 15.5 days, 0.5 days fewer than the 16 days in the same period last year. Considering this, the average daily export value increased by 33.7%, from $1.56 billion last year to $2.09 billion this year.

By major items, compared to the same period last year, semiconductors (28.5%), passenger cars (62.2%), petroleum products (58.6%), and wireless communication devices (15.8%) increased. On the other hand, ships (-27.7%) and computer peripherals (-4.2%) decreased.

Exports to major countries increased in China (7.9%), the United States (41.3%), the European Union (EU, 48.8%), Vietnam (34.8%), Japan (33.0%), and the Middle East (17.9%).

Imports as of the 20th of this month amounted to $32.1 billion, up 29.1% ($7.23 billion) compared to the same period last year. Compared to the same period last year, crude oil (124.6%), semiconductors (13.1%), machinery (2.6%), petroleum products (99.1%), and passenger cars (87.8%) increased. Wireless communication devices (-26.6%) decreased. By country, imports increased from China (19.0%), the United States (25.6%), the EU (13.5%), the Middle East (57.1%), Japan (17.2%), and Australia (44.8%).

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