Thanks to strong semiconductor exports, exports continued to increase until the middle of this month.
According to the Korea Customs Service on the 23rd, exports from the 1st to the 20th amounted to $40.3 billion (about 58.4 trillion won), an increase of 6.8% ($2.57 billion) from the same period a year ago.
The average daily export amount, considering the number of operating days, increased by 3.5% to $2.52 billion. As of the 20th of this month, the number of operating days is 16.0 days, which is 0.5 days more than the same period last year (15.5 days).
Exports continued to increase for 14 consecutive months until last month. However, the export growth rate has slowed since August of this year (10.9%) and has been slowing for four consecutive months until last month (1.4%).
Looking at exports by major items as of the 20th, there was an increase in semiconductors (23.4%), steel products (11.7%), automobile parts (8.9%), and computer peripherals (79.7%). On the other hand, exports decreased in passenger cars (-0.2%), petroleum products (-14.6%), and ships (-24.5%).
By country, exports to China (12.4%), the United States (6.0%), the European Union (EU), and Vietnam (7.6%) increased, while exports to Hong Kong (-10.0%) decreased.
As of the 20th of this month, imports amounted to $39 billion, an increase of 7.5% ($2.73 billion) from a year ago.
It increased in semiconductors (27.8%) and semiconductor manufacturing equipment (67.9%), and decreased in crude oil (-13.6%), gas (-13.1%), and coal (-4.2%). Accordingly, the trade balance during this period recorded a surplus of $1.348 billion.
Cho Ik-no, trade policy director at the Ministry of Trade, Industry and Energy, said, “Due to the strong performance of semiconductors, steel, and automobile parts, both exports up to the 20th and average daily exports increased.” He added, “In December as a whole, information technology (IT) items such as semiconductors and wireless communications increased.” “We expect to continue the export positive trend for 15 consecutive months,” he said.
Sejong = Reporter Kim Do-hyung [email protected]
-
- great
- 0dog
-
- I’m sad
- 0dog
-
- I’m angry
- 0dog