Exports from August 1-20 Reach $32.2 Billion... Up 40.9% YoY (Update)

(Photo) [Image source=Yonhap News]

[Sejong=Asia Economy Reporter Joo Sang-don] Exports have increased by more than 40% 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 10 consecutive months.

On the 23rd, the Korea Customs Service announced that exports from August 1 to 20 amounted to $32.2 billion, an increase of 40.9% ($9.36 billion) compared to the same period last year.

Accordingly, the cumulative export amount this year reached $390.9 billion, up 27.7% ($84.71 billion).

By item, exports increased compared to the same period last year in semiconductors (39.8%), petroleum products (55.3%), passenger cars (37.0%), wireless communication devices (47.0%), and automobile parts (31.8%). Home appliances decreased by 0.1%.

By country, exports increased to China (37.3%), the United States (50.1%), Vietnam (12.9%), the European Union (EU, 42.7%), Japan (49.0%), and Taiwan (60.7%).

Imports from August 1 to 20 also rose to $35.8 billion, an increase of 52.1% ($12.25 billion) compared to the same period last year. Imports increased in crude oil (90.3%), semiconductors (17.3%), petroleum products (200.4%), gas (198.2%), machinery (11.7%), and passenger cars (21.5%). By major countries, imports increased from China (40.7%), the United States (60.3%), the EU (40.4%), Japan (27.1%), Australia (150.7%), and Saudi Arabia (138.5%).

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