Seoul: Korea’s exports increased by 8.3 percent in the first 20 days of June compared to the same period last year, driven by robust demand for semiconductors, data revealed.
According to Emirates News Agency, outbound shipments from the Republic of Korea amounted to US$38.67 billion from June 1st to 20th, up from $35.69 billion recorded in the same timeframe last year. This data was provided by the Korea Customs Service.
Yonhap News Agency noted that the daily average export volume rose by 12.2 percent year-on-year during this period. The number of working days was 14, slightly less than the 14.5 days observed last year.
Imports also saw a rise, increasing by 5.3 percent year-on-year to reach $36.1 billion, resulting in a trade surplus of $2.6 billion.
Semiconductors led the export surge, with a 21.8 percent increase from the previous year, totaling $8.85 billion. These chip exports made up 22.9 percent of Korea’s total exports during this period, up from 20.4 percent last year.
Automobile exports incre
ased by 9.2 percent to $3.65 billion, and vessel shipments saw a significant rise of 47.9 percent, reaching $1.58 billion.
Regarding export destinations, shipments to the United States and the European Union increased by 4.3 percent and 23.5 percent, respectively. Meanwhile, exports to China, Korea’s largest trading partner, decreased by 1 percent during this period.
