Export Up 22.9% from September 1-20... Positive Signal for 11 Consecutive Months (Follow-up)

Korea Customs Service, Export and Import Status from September 1 to 20

Semiconductors 7.7%↑ · Petroleum Products 95.0%↑ · Passenger Cars 9.4%↑

(Photo) [Image source=Yonhap News]

[Sejong=Asia Economy Reporter Joo Sang-don] Exports have increased by more than 20% compared to the same period last year from the beginning of this month to the 20th. If this trend continues, the growth that started in November last year is likely to continue for 11 consecutive months.

According to the Korea Customs Service on the 23rd, export value from September 1 to 20 was $36.1 billion, up 22.9% ($6.71 billion) compared to the same period last year. Reflecting this, the cumulative annual export value reached $447.9 billion, an increase of 27.2% ($95.8 billion) compared to the same period last year.

The number of working days this month is 14.5, one day less than the same period last year (15.5 days). Considering this, the average daily export value was $2.49 billion, up 31.3% from $1.89 billion in the same period last year.

Exports of major items, except ships (-54.1%), all increased. Compared to the same period last year, semiconductors (7.7%), petroleum products (95.0%), passenger cars (9.4%), wireless communication devices (19.6%), and automobile parts (13.1%) increased. By country, exports to China (19.7%), the United States (24.9%), the European Union (EU, 34.2%), Vietnam (8.2%), Japan (33.6%), and Taiwan (52.6%) increased.

Imports from September 1 to 20 amounted to $35.0 billion, up 38.8% ($9.77 billion). The cumulative annual import value also rose to $425.5 billion, an increase of 29.0% ($95.77 billion).

Compared to the same period last year, crude oil (85.3%), semiconductors (15.8%), petroleum products (241.8%), and gas (170.3%) increased, while wireless communication devices (-1.7%) and passenger cars (-19.2%) decreased. Among major countries, imports from China (25.0%), the United States (27.5%), the EU (18.8%), Japan (27.3%), and Australia (128.4%) increased, while imports from Vietnam (-5.9%) decreased.

The trade balance from September 1 to 20 recorded a surplus of $1.117 billion. The surplus amount decreased by $3.061 billion compared to the same period last year ($4.178 billion).

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