Korea’s exports increased by 8.4% in November

SEOUL, 1st December / WAM / The Republic of Korea’s exports rose by 8.4% last November compared to the previous year, exceeding 61 billion US dollars, continuing their series of increases for the sixth month in a row, thanks to strong demand for semiconductors, according to government data issued today, Monday.

The Korean Yonhap News Agency reported that the value of exports reached 61.04 billion US dollars last month, the highest for any month of November, according to data collected by the Korean Ministry of Trade, Industry and Resources.

Imports rose 1.2% year-on-year to US$51.3 billion, resulting in a trade surplus of US$9.73 billion.

Accumulated exports during the period from January to November of this year amounted to $640.2 billion, which is the highest record level for the aforementioned period.

Semiconductor exports jumped by 38.6% to reach an all-time high of US$17.26 billion last month, led by the continued rise in memory chip prices on the back of strong demand for high-value data center products.

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