Exports up 4.6% by the 20th of this month... Positive Signal for October Rebound (Update)

Exports increased by more than 4% through the 20th of this month, signaling a positive turn for October exports.

According to the export-import status from October 1 to 20 announced by the Korea Customs Service on the 23rd, export value reached $33.8 billion, up 4.6% compared to the same period last year.

The number of working days was 13, 0.5 days fewer than the same period last year. Considering this, the average daily export value increased by 8.6% to $2.6 billion.

Exports of major items increased compared to the same period last year, with petroleum products (14.5%) and passenger cars (24.7%) rising. On the other hand, semiconductors (-6.4%) and precision instruments (-12.3%) decreased.

By country, exports to the United States (12.7%), Vietnam (0.6%), and Japan (20.0%) increased. Exports to China (-6.1%) and the European Union (EU, -1.0%) decreased.

Imports from October 1 to 20 amounted to $37.6 billion, up 0.6% compared to the same period last year. By item, crude oil (30.5%) and petroleum products (35.9%) increased, while semiconductors (-3.3%), gas (-30.9%), and machinery (-2.3%) decreased. Energy imports including crude oil, gas, and coal increased by 6.1%.

Imports from major countries increased from Saudi Arabia (17.3%) and Australia (18.5%), while those from China (-4.5%), the United States (-9.0%), and the EU (-3.2%) decreased.

The trade balance recorded a deficit of $3.7 billion. Accordingly, the cumulative deficit from the beginning of this year through the 20th of this month increased to $23.435 billion.

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