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Analysis

Korea's early September exports hit a chip-led record

South Korea's exports reached $71.4 billion in the first 20 days of September, as semiconductor shipments rose 259.4% from a year earlier.

Economics & Markets··Evening
At a sunlit port, a crane lifts an open unmarked semiconductor carrier, visibly holding a large silicon wafer and chip-die trays, toward a container vessel.

Twenty-day record

South Korea's exports totalled 71.4 billion dollars in the first 20 days of September, according to preliminary Korea Customs Service data reported by Seoul Economic Daily and BusinessKorea. Both reports called the figure a record for the period. Exports were 78.3 percent higher than a year earlier.[1], [2]

Semiconductor contribution

Semiconductor shipments rose 259.4 percent to 34.1 billion dollars, the two publications reported from the customs data. Seoul Economic Daily said chip exports accounted for 47.8 percent of total exports. The reports identify semiconductor shipments as the main driver of total exports.[1], [2]

What the reading measures

The figures cover the first twenty days of September rather than the full month. They are preliminary customs data, as both reports state. That high-water mark therefore describes trade recorded in that twenty-day window, while the cited reports do not present it as a completed monthly export result. BusinessKorea also reported that the period had 15.5 working days, one fewer than a year earlier.[1], [2]

References

  1. News sourceSeoul Economic DailySouth Korea's first-20-days September exports hit a record on semiconductor shipments↩1↩2↩3
  2. News sourceBusinessKoreaSouth Korea's first-20-days September exports hit a record on semiconductor shipments↩1↩2↩3