In the first ten days of the new year, exports increased by more than 20%, signaling a pleasant start.
According to the Korea Customs Service on the 11th, exports from the 1st to the 10th of this month (provisional customs clearance) amounted to $13.945 billion, up 24.4% from the same period last year. During this period, the number of working days was 6.5 this year, 0.5 more than last year (6 days).
Looking at major items, semiconductors, the number one export item, rose 23.3% to $2.94 billion. Steel products rose 47.9% to $1.146 billion, petroleum products increased 135.3% to $967 million, passenger cars increased 26.2% to $840 million, and auto parts increased 29.4% to $505 million, respectively.
On the other hand, the number of wireless communication devices decreased by 51.0% to $391 million, and the number of ships decreased by 61.4% to $320 million.
By major export destination, China (22.6%), the United States (35.1%), Vietnam (17.3%), and the European Union (3.8%) increased while Hong Kong (-23.4%) decreased.
Imports from the 1st to the 10th were $18.89 billion, up 57.1% from the same period last year. Imports of gas (392.5%), crude oil (79.9%), semiconductors (28.4%) and petroleum products (149.8%) increased significantly, while wireless communication devices (-42.5%) decreased.
By major importing country, China (39.5%), the United States (70.2%), the European Union (18.6%), Australia (193.5%), Japan (34.7%) and Saudi Arabia (356.9%) showed the largest increase.
During this period, the trade balance recorded a deficit of $4.945 billion. This is a larger deficit than the trade deficit of $810 million in the same period last year.
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