Exports up 78% in first 20 days of Sept. on robust chip shipments

Korea's exports experienced an astonishing 78 percent increase in the first 20 days of September, according to customs data released on Monday. The surge was primarily fueled by robust shipments of semiconductors. In the period from September 1 to 20, outbound shipments soared to $71.4 billion, a significant jump from $40 billion recorded in the same period last year.

The Korea Customs Service data revealed this as the highest volume ever seen in a 20-day tally, surpassing the previous record of $61.7 billion set in June. Imports, on the other hand, experienced a 26.7 percent rise to $48.4 billion over the same period, resulting in a substantial trade surplus of $23 billion.

Semiconductor exports saw a staggering 259 percent increase, catapulting to $34.12 billion. Other notable increases included petroleum products, up 47.8 percent to $4 billion, and automotive exports, which rose by 9.3 percent to $3.73 billion. Steel products and ship exports also saw growth, with the latter increasing by 63 percent.

However, mobile device exports experienced a slight decline of 0.4 percent, settling at $1.24 billion. When it came to destinations, exports to China more than doubled to $16.6 billion, while shipments to the United States also rose by 11 percent.