South Korea’s exports more than double in October’s first 20 days
South Korea’s preliminary customs figures put exports in October’s first 20 days at about 61.61 billion US dollars, up 105.4 per cent from a year earlier. Growth per working day was lower, at 65.9 per cent. Semiconductor shipments accounted for 44.7 per cent of export value, while imports also rose and the trade balance remained in surplus.
Economics & Markets··Midday
Exports pass 61 billion dollars in the first 20 days
South Korea’s exports rose 105.4 per cent from a year earlier in the first 20 days of October, according to preliminary customs figures released on October 21. Export value reached about 61.61 billion US dollars.[1], [2]
The period contained 13 working days. Exports per working day averaged 4.74 billion US dollars and grew 65.9 per cent annually. The daily average was a record for a first-20-day period. It is a different comparison from the more than doubling of the total export value.[1]
Semiconductors represent 44.7 per cent of exports
Semiconductor exports increased 222.5 per cent to 27.516 billion US dollars. Their share of total exports rose by 16.2 percentage points to 44.7 per cent. Computer and peripheral exports grew 424 per cent, while petroleum products rose 68.3 per cent and passenger vehicles 40.9 per cent.[1]
Imports rise alongside a trade surplus
Imports increased 42.8 per cent to 47.117 billion US dollars, leaving a trade surplus of 14.496 billion US dollars. Energy imports rose 53.5 per cent. Exports to China, the United States and Vietnam together represented 52.7 per cent of the total. These preliminary figures cover October 1–20, not the full month.[1]
