Korea’s exports increased by 14.9% during the first 20 days of January

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SEOUL, 21st January, 2017 (WAM) – The Republic of Korea’s exports rose by 14.9% on an annual basis during the first 20 days of this January, driven by strong demand for semiconductors, according to data issued today, Wednesday, by the Korean Customs Service.

The Korean Yonhap News Agency reported that the value of exports amounted to 36.36 billion US dollars during the period from January 1 to 20 of the same month, compared to 31.63 billion dollars recorded during the same period last year, according to data issued by the department.

The data showed that imports increased by 4.2% year-on-year to reach $36.98 billion during the same period, leading to a trade deficit of $600 million.

The average daily volume of exports also increased by 14.9% on an annual basis, as the number of working days during the period remained unchanged at 14.5 days compared to the previous year.

According to the item, semiconductor exports jumped by 70.2% year-on-year during the period to reach $10.73 billion. Exports of electronic chips accounted for 29.5% of the country’s total exports, an increase of 9.6 percentage points over the same period last year.

Exports of petroleum products rose by 17.6% to reach $2.46 billion, and steel exports grew by 1.2% to reach $2.4 billion.

However, automobile exports fell by 10.8% year-on-year to $2.87 billion, while ship exports fell by 18.1% to $1.33 billion.

During last December, exports rose by 13.4% year-on-year to reach $69.6 billion as a result of strong demand for semiconductors, marking the eleventh consecutive month of year-on-year increase.

During 2025, exports reached a record level of $709.7 billion.

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