South Korea experienced a phenomenal surge in its export performance during the first ten days of July, with outbound shipments soaring by an impressive 53.9 percent compared to the same period last year. This remarkable growth, as official data released on Monday revealed, was primarily propelled by robust demand for its key semiconductor products.
Total outbound shipments for the July 1-10 period reached an unprecedented $29.8 billion. This marks a significant increase from the $19.3 billion recorded during the corresponding period in the previous year, according to detailed figures from the Korea Customs Service.
This latest achievement represents the highest export figure ever compiled by the customs agency for any 10-day interval, significantly surpassing the previous record of $28.6 billion that was set just last month in June.
During the same ten-day span, South Korea’s imports also saw a substantial increase of 17.4 percent year-on-year, reaching $23.5 billion. This robust trade activity culminated in a healthy trade surplus of $6.4 billion, reflecting the nation’s strong economic position.
Delving into specific sectors, semiconductor exports demonstrated extraordinary growth, nearly tripling to reach $11.2 billion. Concurrently, automobile exports also contributed positively to the overall performance, climbing 5.7 percent to $1.89 billion.
Further boosting export figures were petroleum products and ships. Outbound shipments of petroleum products advanced by 22.7 percent, totaling $1.75 billion, while ship exports surged by an impressive 75.1 percent to $1.54 billion.
Geographically, exports to key international markets exhibited strong performance. Shipments to China witnessed an exceptional surge of 88.7 percent, reaching $7 billion. Meanwhile, exports to the United States also saw a significant increase of 43.2 percent, totaling $4.91 billion.
