Exports Continue to Rise... Up 3.3% from the 1st to 10th of This Month (Update)

Exports increased by more than 3% from the 1st to the 10th of this month, continuing the upward trend. The average daily export value surged by 18%. If exports increase throughout December, it will mark three consecutive months of 'export growth.'

According to the 'Export-Import Status from December 1 to 10' announced by the Korea Customs Service on the 11th, export value reached $15.8 billion, up 3.3% compared to the same period last year. The number of working days during this period was 7, one day fewer than last year. Considering this, the average daily export value increased by 18.6% to $2.26 billion.

Among major export items, ships increased significantly by 141.3% compared to the same period last year, and passenger cars also rose by 13.2%. However, semiconductors (-4.0%) and petroleum products (-4.5%) decreased. By country, exports to the United States (23.7%) and Hong Kong (48.7%) increased, while those to China (-6.7%) and Vietnam (-0.9%) declined.

Imports from the 1st to the 10th of this month amounted to $17.2 billion, down 15.3% compared to the same period last year. Imports of machinery (1.2%) and passenger cars (3.6%) increased, but crude oil (-19.4%), semiconductors (-14.8%), and gas (-31.7%) decreased.

The trade balance recorded a deficit of $1.4 billion. Including this, the cumulative trade deficit for this year stands at $15.856 billion, reducing the deficit by $32.16 billion compared to the same period last year (-$48.016 billion).

Export containers are being loaded onto a ship at Busan North Port. Photo by Jinhyung Kang aymsdream@

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