November Export Conditions Continue Uptrend Amid Semiconductor Industry Improvement

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

The export index continued its upward trend as semiconductor exports showed clear improvement.

According to the "November Trade Index and Terms of Trade" released by the Bank of Korea on the 29th, the export volume index last month recorded 131.60, up 11.3% compared to the same month last year. The export volume index has been rising for three consecutive months since September.

The export value index for November also rose 7.4% year-on-year to 133.49, marking two consecutive months of increase following October.

The improvement in indicators was driven by better export conditions for computers, electronics, and optical equipment, including semiconductors. A Bank of Korea official explained, "The export volume index continues to rise as demand increases recently, centered on high-spec memory semiconductors."

The export index for transportation equipment, including electric vehicles, is also steadily increasing.

On the other hand, the import volume index fell 7.8% year-on-year, continuing a five-month consecutive decline. The import value index also dropped 12.5% year-on-year, marking nine consecutive months of decline.

This was due to increased imports of coal and petroleum products, while imports of minerals, computers, electronics, and optical equipment decreased.

The net barter terms of trade index, which indicates the quantity of goods that can be imported per unit of exports, rose 1.6% year-on-year. It has been rising for six consecutive months, continuing the improvement in trade indicators.

The income terms of trade index, which represents the total quantity of goods that can be imported with the total export value of the country, also increased 13.1% year-on-year, marking six consecutive months of growth.

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