Export Value from 1st to 20th This Month Reaches $39.9 Billion... 27.6% Increase YoY

Increase in Semiconductor, Ship, and Petroleum Product Exports... Passenger Car Exports Decline
Imports Rise 41.9% to $39.8 Billion... Trade Surplus at $73 Million

[Sejong=Asia Economy Reporter Kwon Haeyoung] From the 1st to the 20th of this month, export amounts increased by nearly 30% compared to the same period last year.

The Korea Customs Service announced on the 22nd that the export amount (provisional customs clearance basis) from the 1st to the 20th reached $39.9 billion, an increase of 27.6% ($8.6 billion) compared to the same period last year.

During this period, the number of working days was 16.5, 0.5 days more than a year ago. Considering the number of working days, the average daily export amount increased by 23.7%.

Without considering the number of working days, exports of major items increased compared to the same period last year: semiconductors (32.5%), ships (252.2%), petroleum products (113.6%), and computer peripherals (51.4%). Exports of passenger cars (-1.9%) decreased.

By country, exports increased to China (24.2%), the United States (8.9%), Vietnam (17.1%), the European Union (13.1%), Japan (25.2%), and Taiwan (41.4%).

Monthly export amounts have increased for 12 consecutive months from November last year to last month. The confirmed export amounts for September and October were $55.9 billion and $55.6 billion respectively, ranking first and second in monthly export records.

Imports from the 1st to the 20th of this month were provisionally estimated at $39.8 billion, an increase of 41.9% ($11.8 billion) compared to the same period last year.

By major item, imports increased compared to a year ago in crude oil (118.1%), semiconductors (31.0%), gas (167.7%), and machinery (7.3%). On the other hand, imports of passenger cars (-25.0%) decreased.

By country, imports increased from China (29.4%), the United States (72.0%), Japan (18.0%), Australia (95.7%), and Saudi Arabia (139.3%). Imports from the European Union (-3.7%) decreased.

From the beginning of this month to the 20th, the trade balance showed a surplus of $73 million, with the surplus significantly decreasing compared to a year ago. The trade surplus for the same period last year was $3.211 billion.

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