Semiconductor Boom Drives 43.7% Surge in Exports Through May 10

Korea Customs Service Reports Import and Export Performance for May 1–10

Semiconductor exports surged by nearly 150% year-on-year in the first ten days of this month, driving the overall export growth.

According to the Korea Customs Service's report on import and export trends for May 1–10, released on May 11, exports reached USD 18.4 billion, up 43.7% compared to the same period last year. This is the highest figure ever recorded for the first ten days of May. The number of working days was five, the same as last year. Taking this into account, the average daily export value was also up 43.7% to USD 3.69 billion.

The Asia Business Daily DB

The rise in exports this month was once again led by semiconductors. Semiconductor exports amounted to USD 8.539 billion from May 1–10, up 149.8% year-on-year. This is the highest May figure on record. Other notable increases were seen in computer peripherals (382.8%), petroleum products (2.4%), and wireless communication devices (6.4%). In contrast, exports of passenger cars (-26.0%), steel products (-3.2%), and precision instruments (-13.6%) declined.

By country, exports increased to China (81.8%), Vietnam (89.3%), the United States (17.9%), Taiwan (96.7%), and the European Union (EU, 11.3%), while exports to India (-13.8%) and Singapore (-6.0%) decreased.

Imports for May 1–10 totaled USD 16.7 billion, an increase of 14.9% compared to the same period last year. Imports of crude oil (7.9%), semiconductors (41.4%), semiconductor manufacturing equipment (129.7%), and petroleum products (100.8%) all increased, while machinery imports (-1.9%) decreased. Imports from China (28.8%), the United States (22.9%), the EU (45.3%), Saudi Arabia (19.6%), and Japan (7.2%) increased, but imports from Taiwan (-3.4%) and Russia (-40.2%) declined.

The trade balance for May 1–10 recorded a surplus of USD 1.6098 billion. As a result, the cumulative trade surplus from the beginning of the year through May 10 grew to USD 76.657 billion.

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