Key facts
- South Korea's exports increased by 53.9% in the first 10 days of July.
- Semiconductor exports nearly tripled, reaching $11.2 billion.
- Exports to China and the U.S. saw significant increases.
- The country achieved a trade surplus of $6.4 billion in the period.
- Cumulative exports for the year have risen by 48.6%.
South Korea's exports experienced a significant surge of 53.9% in the first 10 days of July, reaching $29.8 billion, according to data from the Korea Customs Service. This marks the highest figure for any 10-day period recorded by the agency. The strong performance was largely driven by a near threefold increase in semiconductor shipments, which totaled $11.2 billion.
Overall imports also saw a rise of 17.4% to $23.5 billion during the same period, resulting in a trade surplus of $6.4 billion. Other sectors also contributed positively, with automobile exports increasing by 5.7% to $1.89 billion, petroleum products by 22.7% to $1.75 billion, and ships by 75.1% to $1.54 billion.
Geographically, exports to China saw a substantial jump of 88.7% to $7 billion, while shipments to the United States grew by 43.2% to $4.91 billion. Cumulatively, South Korea's exports for the year have reached $526.1 billion, an increase of 48.6% from the previous year, with the total trade surplus standing at $144 billion.