South Korean Exports Rise 8.3% on Chip Demand
South Korean exports rose 8.3% year-on-year in the first 20 days of this month, driven by strong demand for semiconductors.
According to data released by the Korea Customs Service on Monday, Korean exports reached $38.67 billion from June 1 to 20, compared to $35.69 billion during the same period last year.
The average daily export volume increased 12.2% year-on-year during the period, while the number of working days during this period reached 14, compared to 14.5 days during the same period last year.
South Korean imports increased 5.3% year-on-year to $36.1 billion during this period, resulting in a trade surplus of $2.6 billion.
In detail, semiconductor exports increased by 21.8% year-on-year to $8.85 billion, while chip exports accounted for 22.9% of total exports during the period, a 2.5 percentage point increase compared to the same period last year. Automobile exports rose by 9.2% year-on-year to $3.65 billion, and ship exports jumped by 47.9% to $1.58 billion.
By destination, exports to the United States and the European Union increased by 4.3% and 23.5% year-on-year, respectively, while exports to China, South Korea's largest trading partner, declined by 1% during the same period.
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South Korean Exports Rise 8.3% on Chip Demand
Seoul - (Saba): South Korean exports rose 8.3% year-on-year in the first 20 days of this month, driven by strong demand for semiconductors. According to data released by the Korea Customs Service on Monday, Korean exports reached $38.67 billion from June 1 to 20, compared to $35.69 billion during the same period last year. The average daily export volume increased 12.2% year-on-year during the period, while the number of working days during this period reached 14, compared to 14.5 days during the same period last year. South Korean imports increased 5.3% year-on-year to $36.1 billion during this period, resulting in a trade surplus of $2.6 billion. In detail, semiconductor exports increased by 21.8% year-on-year to $8.85 billion, while chip exports accounted for 22.9% of total exports during the period, a 2.5 percentage point increase compared to the same period last year. Automobile exports rose by 9.2% year-on-year to $3.65 billion, and ship exports jumped by 47.9% to $1.58 billion. By destination, exports to the United States and the European Union increased by 4.3% and 23.5% year-on-year, respectively, while exports to China, South Korea's largest trading partner, declined by 1% during the same period. Whatsapp Telegram Email more of (International)
