Exports more than double in 1st 10 days of November

Korea's exports more than doubled in the first 10 days of November, according to customs data released on Wednesday. The country's outbound shipments reached $33.5 billion during the period, representing a significant increase from $15.7 billion during the same timeframe last year. This surge brought the country closer to achieving the $1 trillion mark in annual exports.

The highest export value for the first 10 days of any November was recorded, surpassing previous records. Imports rose by 45% on-year to $24.7 billion, resulting in a trade surplus of $8.8 billion. Among the sectors, exports of chips surged by a staggering 331.2% to $16.6 billion, accounting for 49.7% of total outbound shipments, up from a 25.3 percentage point increase a year earlier.

Petroleum products also more than doubled to $2 billion. However, car exports fell by 4.3% to $1.4 billion. Exports to China soared 148% to $9.16 billion, while those to the United States surged 163.6% to $6.79 billion. To date, cumulative exports this year have reached an impressive figure.