2024-06-03 22:15:06
South Korea’s exports continued to develop year-on-year for the eighth consecutive month final Could.
The Ministry of Commerce, Trade and Vitality mentioned in a press release: “Exports rose by 11.7 p.c on an annual foundation to $58.1 billion final Could, whereas imports decreased by 2 p.c on an annual foundation to $53.1 billion, resulting in a commerce surplus of $4.96 billion, to take care of “South Korea has maintained a commerce surplus for 12 consecutive months, and in addition achieved its highest commerce surplus in 41 months.”
In response to the ministry’s knowledge, “chip exports jumped by 54.5 p.c year-on-year to $11.38 billion, sustaining development for the seventh month in a row.”
The ministry mentioned, “The expansion got here amid a rising world demand for automotive digital chips, along with premium reminiscence chips. Display exports additionally rose by 15.8 p.c in the course of the interval to $1.63 billion, which is the very best month-to-month determine for the 12 months 2024, coinciding with the sturdy efficiency of the sector.” sensible telephones”.
She added: “Automobile exports elevated by 4.8 p.c to $6.49 billion, which is the very best worth recorded for the months of Could, after growing gross sales of environmentally pleasant luxurious automobiles and multi-use sports activities automobiles, and ship exports greater than doubled in the course of the interval to $2 billion, as a result of sturdy world demand.” On container carriers, different main development sectors included oil, electronics, petrochemical merchandise and textiles.”
The ministry continued: “Exports to China elevated by 7.6 p.c on an annual foundation to $11.38 billion, which is the very best worth recorded in 19 months. Exports to the USA additionally elevated on an annual foundation for the tenth month in a row, growing by 15.6 p.c to succeed in $10.93 billion.” {dollars}, on the again of exports of automobiles, chips and computer systems.”
The ministry mentioned: “Demand for high-bandwidth reminiscence chips additionally rose in the USA after the restoration of the semiconductor trade, and exports to Southeast Asia improved by 21.9 p.c year-on-year in Could to succeed in $10.19 billion, amid rising demand for electronics in Vietnam.”
The Commerce Statistics System of the Korea Worldwide Commerce Affiliation introduced that “South Korea’s uranium exports to the United Arab Emirates rose to $305 million final 12 months.”
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2024-06-03 22:15:06