October 1-20 Exports Up 36.1%... Will the Growth Trend Continue for 12 Consecutive Months?

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

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[Sejong=Asia Economy Reporter Joo Sang-don] Exports have increased by more than 36% compared to the same period last year until the 20th of this month, continuing the upward trend that began in November last year. If exports increase overall this month, the export growth streak will continue for 12 consecutive months.

According to the Korea Customs Service on the 21st, export value from October 1 to 20 was $34.2 billion, up 36.1% ($9.07 billion) compared to the same period last year. Accordingly, the cumulative export value reached $501.8 billion, an increase of 26.8% ($106.13 billion) compared to the same period last year.

The number of working days from October 1 to 20 this year was 13 days, one day more than the 12 days in the same period last year. Considering this, the average daily export value increased by 25.7%, from $2.09 billion in October last year to $2.63 billion this October.

By item, exports increased compared to the same period last year in semiconductors (23.9%), petroleum products (128.7%), passenger cars (10.5%), wireless communication devices (2.6%), ships (93.5%), and precision instruments (26.7%).

By country, exports increased to China (30.9%), the United States (37.1%), the European Union (EU, 42.1%), Vietnam (15.0%), Japan (51.9%), and Taiwan (61.4%).

Imports from October 1 to 20 amounted to $36.7 billion, up 48.0% ($11.89 billion) compared to the same period last year, and the cumulative annual import value reached $479 billion, an increase of 29.9% ($110.31 billion).

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