Strong Start to New Year Exports... 10.6% Increase from January 1 to 20

Korea Customs Service, Export-Import Status from 1st to 20th
Daily Average Also Increased by 10.6%
Exports of Semiconductors, Passenger Cars, and Wireless Communication Devices Increased

[Image source=Yonhap News]

[Asia Economy, Reporter Joo Sang-don] New Year's export performance has turned to an upward trend. From the beginning of this month to the 20th, export value increased by more than 10% compared to the previous year.

According to the Korea Customs Service on the 21st, export value from the 1st to the 20th was $28.2 billion, an increase of 10.6% ($2.7 billion) compared to the same period last year. Exports from the 1st to the 10th, when the number of working days was 1.5 days fewer than the previous year, had decreased by 15.4%.

The daily average export value, considering the number of working days, also increased by 10.6% to $1.95 billion. The number of working days was the same as last year at 14.5 days.

By item, semiconductors (11.6%), passenger cars (15.7%), and wireless communication devices (60.5%) increased. On the other hand, petroleum products (-45.6%) and computer peripherals (-1.1%) decreased.

By country, exports to China (18.6%), the United States (18.6%), Vietnam (13.4%), and the European Union (EU, 16.0%) increased, while exports to Japan (-10.9%) and the Middle East (-15.1%) decreased.

Imports from the 1st to the 20th amounted to $28.6 billion, an increase of 1.5% ($420 million) compared to the same period last year. Imports of semiconductors (22.5%), machinery (6.2%), and wireless communication devices (20.5%) increased, while crude oil (-40.9%), gas (-15.1%), and petroleum products (-40.5%) decreased.

By country, imports from China (8.1%), the EU (6.6%), Japan (29.9%), and Vietnam (3.5%) increased, while imports from the United States (-12.4%) and the Middle East (-37.4%) decreased.