Exports Reach $16.8 Billion by the 10th of This Month... Up 16.5% YoY (Update)

Korea Customs Service, Export and Import Status from May 1 to 10

Exports recorded an increase of over 16% until the 10th of this month.

The Korea Customs Service announced the export-import status for 'May 1-10' on the 13th, containing this information.

According to this, the export amount from May 1 to 10 was $16.8 billion, an increase of 16.5% ($2.38 billion) compared to the same period last year.

The number of working days was 6.5, the same as the same period last year. Considering this, the average daily export amount increased by 16.5% to $2.59 billion.

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

Exports by major items increased compared to the same period last year in semiconductors (52.0%), petroleum products (14.1%), passenger cars (8.9%), and wireless communication devices (10.5%). However, automobile parts (-2.5%) decreased. By country, exports increased to China (9.7%), the United States (12.5%), the European Union (EU, 9.1%), Vietnam (30.6%), and Japan (11.3%).

Imports amounted to $17.4 billion, a decrease of 6.7% ($1.24 billion) compared to the same period last year. Imports increased for crude oil (9.9%), semiconductors (10.1%), and petroleum products (42.5%), while gas (-8.6%) and machinery (-20.6%) decreased. Imports from major countries increased from the United States (9.6%), Saudi Arabia (33.0%), and Taiwan (39.6%), but decreased from China (-9.7%) and the EU (-20.9%).

The trade balance recorded a deficit of $600 million. Including this, the cumulative trade surplus for this year was calculated at $9.981 billion.

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