Exports rose by 11% from March 1 to 20… Semiconductors surged by 47%

Ships increased by 371%, household appliances by 20%, exports to China also increased by 7.5% in one year.

As of the 20th of this month, exports have increased by more than 10% compared to a year ago. While the export of semiconductors is increasing, the export to China has also increased compared to the previous year.

According to the data of the Korean Customs Service on the 21st, the export volume from the 1st to the 20th of this month was estimated at 34.125 billion dollars. Compared to the same period last year, it increased by 11.2% (30.696 billion US dollars).

According to the article, the export of semiconductors has significantly increased by 46.5% compared to a year ago. Semiconductors, which saw clear export growth in November last year (10.8%) and December (19.0%), and in January (52.8%) and February (63.0%) this year, continue to perform well this month. to work

Ship exports, where both shipping volume and ship prices are increasing, increased by 370.8%, while exports of household appliances also increased by 19.9%. On the other hand, the export of passenger cars, which decreased by 8.2% last month, continued to decline, decreasing by 7.7%.

By country, exports to China increased by 7.5%. Monthly exports to China, which fell for the first time in a month last month due to the Chinese Lunar New Year holiday, appear to be recovering again this month. Exports to the USA (18.2%), the European Union (4.9%), Vietnam (16.6%) and Hong Kong (94.9%) also recorded good indicators. Among major countries, only exports to Japan decreased (-6.8%).

Imports during this period amounted to 34.836 billion dollars, decreasing by 6.3 percent compared to the previous year. Accordingly, the trade balance was calculated to have a deficit of 711 million dollars. Cho Ik-no, director of trade policy at the Ministry of Trade, Industry and Energy, said: “The number of working days this month is 1.5 days less compared to last year, so the export growth rate by the end of the month will be: to stabilize to some extent, but the trend of positive balance of exports and trade will continue smoothly due to the high indicators of information technology (IT) products,” it is expected.

Sejong = Reporter Kim Do-hyung dodo@donga.com

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