Despite the impact of the Ukraine crisis, SME exports in the first half of this year surpassed $60 billion for the first time, a record high.
The Ministry of SMEs and Startups announced on the 27th that exports of SMEs in the first half of this year amounted to USD 60.5 billion, an increase of 8.8% from the same period last year.
This is a new record high of $59.9 billion in the second half of last year.
By month, January to May of this year were the highest for the month. In particular, in March, a new record was set for monthly exports.
Although exports decreased slightly in June, it ranked second among all-time June exports.
The total number of exporting small and medium-sized enterprises (SMEs) decreased by 1.9% from the same period last year, but the number of exporting companies with an export value of $10 million or more increased 12.6% to 1,025.
By item, 9 of the top 10 export items, excluding cosmetics, increased, and semiconductors, steel plates, and other machinery showed a favorable trend.
In the case of pharmaceuticals, the unit price fell, but the volume increased significantly, resulting in an increase in exports.
In particular, the items with the sharp increase were semiconductors (up 25.3%), steel plates (up 26.1%), and other machinery (up 30.2%).
As for semiconductors, system semiconductors related to smartphones, automobiles, and home appliances showed strong growth, and exports to the United States, Japan, and Vietnam increased significantly, with exports in the first half of the year reaching $1.88 billion.
Exports of steel sheets to Mexico and India increased significantly due to a rise in unit prices due to a rise in raw material prices, a booming automobile market, and a recovery in the construction market.
In the case of other machinery, the export of battery processing equipment to China, Vietnam, and the United States increased significantly thanks to the large-scale expansion of overseas factories of electric vehicle battery companies.
On the other hand, in the case of cosmetics, exports to Russia decreased due to sluggish exports to China and the impact of the Ukraine crisis.
By country, among the top 10 exporting countries, exports to the top 9 countries except Hong Kong showed an increase.
Exports to Mexico rose 20.5%, making it a new entry into the top 10.
Germany was excluded from the top 10 countries as demand for COVID-19 test kits declined.
Exports of pharmaceuticals, machinery, and plastics increased to US$8.98 billion in the United States, while Taiwan’s exports of pharmaceuticals and other fine chemical products surged to US$2.04 billion in the aftermath of the surge in the number of confirmed COVID-19 cases. It broke the record high for the first half of the year.
Hong Kong’s exports turned to a downward trend as exports of eight of Hong Kong’s top 10 export items, such as cosmetics and computers, declined in the aftermath of the strong zero-corona policy lockdown.
In addition, exports to Russia and Ukraine plummeted due to the Ukraine crisis that began at the end of February.
In the first half of the year, online exports of small and medium-sized enterprises (SMEs) amounted to $350 million.
By item, computers (up 218.8%) and other textile products such as quarantine masks (up 140.6%) showed strength. In addition, as the export value of cosmetics to Malaysia increased significantly, the export value increased by 138.9%.
Although the proportion of online exports in mid-term exports is still insignificant at 0.6%, the Ministry of SMEs and Startups evaluated that the growth rate of online exports exceeded 10%, with a 16.0% increase in online exports and a 19.9% increase in the number of exporting SMEs.
Inquiries: Global Growth Policy Division, Ministry of SMEs and Startups 044-204-7509