Exports Continue to Rise... Up 2.2% from the 1st to 20th of This Month (Update)

Korea Customs Service, Export-Import Status from November 1 to 20
Trade Deficit of 1.4 Billion USD
Semiconductors Up 2.4%·Cars Up 20.1%

Exports increased by more than 2% from the 1st to the 20th of this month, continuing the upward trend. If exports increase throughout November, it will mark two consecutive months of 'export growth' following last month.

According to the 'Export and Import Status from November 1 to 20' announced by the Korea Customs Service on the 21st, export value reached $33.8 billion, up 2.2% compared to the same period last year. The number of working days during this period was 15.5, the same as last year. Considering this, the average daily export value was $2.18 billion, also up 2.2%.

Among major export items, semiconductors (2.4%), passenger cars (20.1%), and petroleum products (0.4%) increased compared to the same period last year, while automobile parts (-3.6%) decreased.

By country, exports to the United States (15.7%), Vietnam (1.4%), and Japan (10.8%) increased, while exports to China (-2.4%) and the European Union (EU, -4.1%) decreased.

Imports from the 1st to the 20th of this month amounted to $35.2 billion, down 6.2% compared to the same period last year. Imports of crude oil (5.7%), semiconductors (3.1%), and petroleum products (21.0%) increased, whereas imports of gas (-30.2%) and machinery (-7.5%) decreased. Imports from major countries increased from Saudi Arabia (5.9%) and Taiwan (19.7%), but decreased from China (-2.6%), the United States (-5.1%), and the EU (-9.4%).

The trade balance recorded a deficit of $1.4 billion. Including this, the cumulative trade deficit for this year stands at $19.527 billion, a reduction of $20.861 billion compared to the same period last year (-$40.388 billion).

Pyeongtaek Port viewed from the air. [Aerial photography cooperation = Seoul Metropolitan Police Agency Aviation Unit, Pilots: Lieutenant Shin Seung-ho - Lieutenant Park Ji-hwan, Crew: Lieutenant Park Sang-jin] Photo by Jin-hyung Kang aymsdream@

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