Despite Fewer Operating Days, Exports Increase by 25% Until the 10th of This Month (Update)

Korea Customs Service, Export and Import Status from April 1 to 10

Total exports reach $15 billion... up $2.99 billion
Semiconductor exports up 24.8%, passenger cars up 29.8%

(Photo) [Image source=Yonhap News]

[Sejong=Asia Economy Reporter Joo Sang-don] Despite a decrease in working days, exports continued to rise until the 10th of this month. Increasing by nearly 25% compared to the same period last year, the upward trend that began in November last year is likely to continue for six consecutive months.

According to the Korea Customs Service on the 12th, export value from April 1 to 10 reached $15 billion, an increase of 24.8% ($2.99 billion) compared to the same period last year.

Accordingly, the cumulative export value this year recorded $161.5 billion, up 13.6% ($19.3 billion) compared to the same period last year.

The number of working days this month was 8 days, 0.5 days fewer than the 8.5 days in the same period last year. Considering this, the average daily export value was $1.88 billion, a 32.6% increase from last year.

Regarding major items, compared to the same period last year, semiconductors (24.8%), passenger cars (29.8%), wireless communication devices (52.5%), and petroleum products (35.2%) increased. On the other hand, computer peripherals (-5.4%) decreased.

By major countries, exports increased to China (27.6%), the United States (22.6%), Vietnam (45.6%), the European Union (EU, 12.8%), and Japan (3.0%). The Middle East (-11.7%) saw a decrease.

Imports from April 1 to 10 amounted to $16.7 billion, up 14.8% ($2.15 billion) compared to the same period last year. Crude oil (43.8%), machinery (4.8%), petroleum products (57.9%), and passenger cars (11.5%) increased, while semiconductors (-1.6%) and gas (-33.6%) decreased.