Semiconductors raise Korea’s exports by 65% since the beginning of May
SEOUL, May 21 (WAM) – South Korea’s exports rose by 65% during the first twenty days of this month, compared to the same period last year, as semiconductor exports more than tripled during this period.
The value of outbound shipments reached US$52.7 billion during the period from May 1 to 20, compared to US$31.9 billion during the same period last year, according to data released today by the Korean Customs Agency. This is the highest number ever during the first 20 days of May.
Imports also increased by 29.3% year-on-year to reach US$41.6 billion during the aforementioned period, resulting in a trade surplus of US$11 billion.
Semiconductor exports jumped by 202% compared to last year, reaching $21.9 billion, while exports of petroleum products increased by 46.3%, reaching $3.23 billion.
Korean customs data showed that chips accounted for 41.7% of total exports, an increase of 19 percentage points from last year. In contrast, automobile exports decreased by 10.1%, reaching $2.76 billion.
By destination, exports to China rose by 96.5%, followed by the United States by 79.3%, and Vietnam by 70.2%. Shipments to the European Union also increased by 21.7%.
-Except-
- For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and
