With robust semiconductor exports driving growth, shipments between June 1 and 10 saw an almost 86% rise when measured against the same timeframe in the previous year. Export volumes of semiconductors jumped to triple the levels recorded during the corresponding period last year, marking a new peak for this time frame.
As per the Korea Customs Service’s statement released on the 11th about the “import and export situation between June 1 and 10,” total exports during this time reached $28.635 billion, reflecting an 85.9% rise when contrasted with the corresponding timeframe in the prior year. This exceeds the earlier peak for the initial ten days of a month, which had been recorded in the early part of April at $25.2 billion, thus setting a new all-time record.
Major exports including semiconductors (up 205.8%) and passenger vehicles (increased by 25.4%) contributed to reaching a new peak in export figures during this time frame. In the initial ten days of June, exports hit $11.1 billion, marking the largest total for the first ten days of any month. Export growth was notable across industries such as refined fuels (rose 68.7%) and computer accessories (jumped 259.4%).
Exports experienced significant growth in several key markets, including the United States, which saw an increase of 54.4%, and China with a rise of 101.4%. Additionally, shipments to Vietnam increased by 102.9%, while those to the European Union grew by 46% and to Taiwan by 34%.
The exports saw almost an 86% rise throughout this time frame, partly due to more workdays—seven days (not counting public holidays)—as opposed to 5.5 days recorded during the corresponding period in the previous year, representing a gain of 1.5 days. Nevertheless, when considering this factor, the average daily export value still went up by 46.1% from the same timeframe last year.
The value of imports during the initial ten days of June totaled $23.352 billion, representing an upward surge of 35.6% compared to the corresponding timeframe in the previous year. Export figures surpassed import levels, leading to a trade balance surplus of $5.282 billion. The total surplus accumulated since the start of this year up to the tenth day of this month stood at $107.454 billion.
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