Seoul: The Republic of Korea's exports experienced a significant increase of 53.9 percent in the first 10 days of July compared to the same period last year, largely driven by a surge in semiconductor product shipments.
According to Emirates News Agency, outbound shipments during the period from July 1st to 10th amounted to US$29.8 billion, a notable rise from $19.3 billion recorded in the same timeframe the previous year. This figure represents the highest for any 10-day period as compiled by the Korea Customs Service, surpassing the previous record of $28.6 billion set in June.
Imports also saw an increase, rising 17.4 percent year-on-year to $23.5 billion, resulting in a trade surplus of $6.4 billion. Sector-wise, semiconductor exports nearly tripled to $11.2 billion, while automobiles exports increased by 5.7 percent to $1.89 billion.
Petroleum product exports advanced by 22.7 percent to $1.75 billion, and ship exports saw a significant rise of 75.1 percent to $1.54 billion. In terms of export destinations, shipments to China surged 88.7 percent to $7 billion, and those to the United States increased by 43.2 percent to $4.91 billion.
Cumulatively, exports for the year up to the specified period totaled $526.1 billion, reflecting an increase of 48.6 percent from the previous year, with the trade surplus reaching $144 billion.
