Exports up 56 % in first 20 days of Aug. on robust chip shipments
Korea's exports surged 56 percent from a year earlier over the first 20 days of August, customs data showed Friday, with shipments of semiconductors reaching a fresh high. Outbound shipments reached $55.2 billion in the Aug. 1-20 period, according to data from the Korea Customs Service. It was the highest level for the 20-day period for any August. Imports went up 19 percent on-year to $41.2…
South Korea's exports jumped 56% year-over-year during the first 20 days of August, according to customs figures released on Friday. The surge was primarily driven by a record-high shipment of semiconductors, which reached a new peak. In total, outbound shipments amounted to $55.2 billion, marking the highest level for any 20-day period in August. Imports rose 19% to $41.2 billion, resulting in a $14 billion trade surplus.
The daily average export value increased by 61.5% to $3.94 billion, compared to the same period last year. Semiconductor exports nearly tripled to $26 billion, representing 47.2% of total exports, a 22.5 percentage point rise from a year earlier. Petroleum product exports grew by 56.4% to $4.23 billion, while steel shipments increased by 9.7% to $2.39 billion. Automobile exports, however, declined 45.1% to $1.52 billion.
Exports to China surged more than double to $15.26 billion, while shipments to the United States fell short of expectations.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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