Ministry of Industry Reports September Export-Import Trends
Record Highest Export Performance in September
Semiconductor Exports Achieve All-Time High Record
Exports in September increased by 7.5%, marking 12 consecutive months of growth.
According to the September export-import trends announced by the Ministry of Trade, Industry and Energy on the 1st, export value rose 7.5% year-on-year to $58.77 billion.
September exports recorded $58.77 billion, the highest ever for September and the largest this year, continuing the positive trend for 12 consecutive months. In particular, the daily average export in September reached a record high of $2.94 billion (12.9%).
In September, exports of 6 out of the 15 major export items increased, including semiconductors, wireless communication devices, computers, automobiles, ships, and biohealth.
Semiconductor exports, the largest export item, reached $13.6 billion (37.1%), setting a new record for the first time in three months since June and continuing an 11-month consecutive increase. Computer exports increased by triple digits (132.0%) to $1.5 billion for the ninth consecutive month, and wireless communication device exports rose to $1.9 billion (19.0%) for the seventh consecutive month.
Automobile exports, the second-largest export item, increased by 4.9% year-on-year to $5.5 billion despite a decrease in operating days (-1.0 day), achieving the highest performance for September and turning positive after four months. Ship exports rose 76.2% to $2.4 billion, with the growth rate exceeding 50% for two consecutive months. Biohealth exports also increased by 9.9% to $1.2 billion, marking three consecutive months of growth.
By region, exports to China reached $11.7 billion (6.3%), the highest this year, driven by increased exports of semiconductors and wireless communication devices. The trade balance with China turned positive ($500 million) for the first time in seven months due to strong export performance. Exports to the United States recorded $10.4 billion (3.4%), the highest ever for September, setting a new monthly record for 14 consecutive months.
Exports to the EU reached $6.0 billion (5.1%), with significant increases in IT items such as wireless communication and computers, marking the highest monthly export performance for two consecutive months.
Additionally, exports to the three major markets, ASEAN, reached $9.5 billion (0.6%), increasing for six consecutive months. Exports to the Middle East ($1.6 billion, 15.5%) also turned positive after one month.
Imports in September amounted to $52.12 billion, up 2.2%. Energy imports recorded $10.4 billion (-8.4%) due to decreases in crude oil (-11.6%) and gas (-0.6%) imports.
The trade balance in September recorded a surplus of $6.66 billion, an increase of $2.98 billion compared to the previous year, continuing a surplus trend for 16 consecutive months.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
