Semiconductor exports in Seoul Economic Daily rose by an additional 46%

1-20 days export 11.2%

Exports to China increased by 7.5%.

The trade deficit is 710 million dollars

Busan Port Sinseondae Pier. Yunhap news.
Photo courtesy of Korea Customs

As semiconductor exports increased, exports were up more than 10% year-over-year as of mid-month.

The Korea Customs Service announced on the 21st that the amount of exports (the initial value based on customs clearance) from the 1st to the 20th of this month amounted to 34.125 billion dollars, an increase of 11.2% compared to the same period last year. The average daily export volume, taking into account the number of working days, also increased by 11.2%.

According to the articles, semiconductor exports rose 46.5% and ship exports also rose 370.8% as orders continued to flow. On the other hand, exports of passenger cars fell by 7.7 percent this month, following an 8.2 percent drop in the previous month.

By country, exports to China increased by 7.5%. Exports to the USA (18.2%), European Union (EU, 4.9%), Vietnam (16.6%) and Hong Kong (94.9%) also recorded good indicators. The trade balance, which was a deficit of 1.231 billion dollars from the 1st to the 20th of the previous month, recorded a deficit of 711 million dollars from the 1st to the 20th of this month. The monthly trade balance as of the previous month was nine months in surplus. The representative of the Ministry of Trade, Industry and Energy predicted. “The number of working days remaining during this month is 1.5 days less compared to last year, so the growth rate of exports on a monthly basis will be a little lower, but the trend of export plus and trade surplus will continue.”

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