[Asia Economy Reporter Moon Chaeseok] Our exports turned positive for the first time in seven months. The average daily export value, considering the number of working days, also reached $2.089 billion, the highest this year.
According to the 'September Export-Import Trends' announced by the Ministry of Trade, Industry and Energy on the 1st, last month's export value was $48.05 billion, an increase of 7.7% compared to the same month last year.
According to the ministry, the 7.7% export growth rate last month was the highest in 1 year and 11 months since October 2018.
The number of working days last month was 23, 2.5 days more than 20.5 days in September of the previous year.
Our exports turned positive after seven months, recording $41.178 billion (average daily $1.834 billion) in February, up 4.3% compared to the same month last year.
March was -0.7%, April -25.1%, May -23.6%, June -10.9%, July -7.1%, August -10.1%, and last month showed an increase again.
The average daily export value, considering the number of working days, was $2.089 billion, a 4% decrease compared to the same month last year. The average daily export value recorded the highest since January's $2.016 billion. It recovered to the $2 billion level for the first time in eight months.
The average daily export value showed a single-digit decline for three consecutive months: -18.4% in June, -7.1% in July, -4% in August, and -4% last month.
Notably, exports of 10 out of the 15 major items recorded positive growth.
The government reported that exports of major items such as semiconductors, as well as economically sensitive sectors like automobiles, machinery, textiles, and steel, also rebounded.
Semiconductors recorded +11.8%, automobiles +23.2%, auto parts +9.4%, general machinery +0.8%, textiles +11.4%, and steel +1.8% respectively.
An official from the Ministry of Trade, Industry and Energy said, "While semiconductors supported export performance, the positive growth in economically sensitive sectors such as automobiles, machinery, steel, and textiles contributed to last month's export rebound. In particular, the increase in exports of automobiles, machinery, steel, and textiles is seen as a sign of the resumption of economic activities in major overseas markets, so it is necessary to keep an eye on this."
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