Korea’s exports grow by 54% during the first 10 days of July

SEOUL, July 13, 2017 (WAM) – The Republic of Korea’s exports rose by 53.9% on an annual basis during the first 10 days of this July, according to data issued today, Monday, by the Korean Customs Agency.

The Korean Yonhap News Agency reported that the country’s shipments amounted to $29.8 billion during the first 10 days of July, compared to $19.3 billion during the same period last year, according to the data.

Yonhap added that this number is the highest level during the first ten days of any month, pointing out that the previous record was $28.6 billion, which was recorded during June.

The data showed that imports recorded $23.5 billion, an increase of 17.4% during the aforementioned period, leading to a trade surplus of $6.4 billion.

She said that by sector, semiconductor exports nearly tripled to reach $11.2 billion during the first 10 days of this month, while automobile exports recorded an increase of 5.7% year-on-year to reach $1.89 billion.

It indicated a growth in exports of petroleum products and ships by 22.7% and 71.1%, respectively, to reach $1.75 billion and $1.54 billion, respectively.

She added that by destination, exports to China rose by 88.7% to $7 billion, while exports to the United States increased by 43.2% to $4.91 billion.

The data stated that as of July 10 this year, total cumulative exports reached $526.1 billion, an increase of 48.6% over the previous year, and the trade surplus reached $144 billion.

• Okay –

• For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Related