Semiconductors Drive Export Surge Despite Middle East Conflict... Up 49.4% Through the 20th This Month (Update)

Korea Customs Service Releases April 1–20 Export and Import Data

Semiconductor Exports Surge 182.5% to Record April High

Despite Middle East-related risks, exports hit a new all-time high for the period from the beginning of this month through the 20th, driven by strong semiconductor performance.

According to the "Export and Import Trends for April 1–20" released by the Korea Customs Service on the 21st, export value reached 50.4 billion dollars, up 49.4% from the same period last year. Following the record set during April 1–10, the April 1–20 period also saw the highest export figures for any April on record.

Containers are piled up at Pyeongtaek Port in Gyeonggi Province. Photo by Kang Jin-hyung

Semiconductors led this export growth. Semiconductor exports surged by 182.5% compared to the same period last year, also marking the highest April figure on record. As a result, the proportion of semiconductors in total exports rose by 17.1 percentage points to 36.3%. In addition, exports of petroleum products (up 48.4%), steel products (up 8.6%), computer peripherals (up 399.0%), and ships (up 76.6%) also increased. In contrast, exports of passenger cars (down 14.1%), auto parts (down 8.8%), and home appliances (down 16.4%) declined.

Exports to all of the top 10 major export destinations increased. Shipments to China (up 70.9%), the United States (up 51.7%), Vietnam (up 79.2%), the European Union (EU, up 10.5%), and Taiwan (up 77.1%) all grew.

Imports for the period from April 1 to 20 totaled 39.9 billion dollars, up 17.7% year-on-year. Imports of semiconductors (up 58.3%), crude oil (up 13.1%), and semiconductor manufacturing equipment (up 63.3%) increased, while machinery (down 0.6%) and other items decreased. By country, imports from China (up 29.3%), the United States (up 31.5%), the EU (up 25.5%), and Taiwan (up 47.6%) rose, while imports from Japan (down 1.6%) and Saudi Arabia (down 29.1%) fell.

The trade balance for the first 20 days of this month recorded a surplus of 10.442 billion dollars. As a result, the cumulative trade surplus for this year has reached 60.869 billion dollars.

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