June 1~20 export ‘quiet’… Trade balance was also $7.6 billion ‘deficit’ (total)

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[뉴스토마토 김종서 기자] Exports fell 3.4% from June 1 to 20 as the number of working days decreased due to public holidays such as local elections and Memorial Day. Imports surged 21.1%, resulting in a trade deficit of $7.6 billion.

According to the status of ‘exports and imports for June 1-20 (provisional value for customs clearance)’ announced by the Korea Customs Service on the 21st, exports from the 1st to 20th of this month decreased by 3.4% from the same period of the previous year as the number of working days decreased by two days due to public holidays. If the number of working days on public holidays is included, the average daily export value increases by 11.0%.

Looking at the monthly export status, it was 55.3 billion dollars in January, an increase of 15.2%. It was followed by $53.91 billion (20.6%) in February, $63.48 billion (18.2%) in March, $57.858 billion (12.9%) in April, and $61.551 billion (21.3%) in May. ) showed double-digit growth.

Cumulative annual exports this year amounted to 323.9 billion dollars, an increase of 15.4% (43.17 billion dollars) from the same period last year. Revenue was $339.4 billion. This is an increase of 26.8% ($71.83 billion) compared to the same period last year.

The trade balance was $7.642 billion in deficit this month, following $4.872 billion in the same period last month. The cumulative deficit this year is $15.469 billion. During the same period last year, the trade surplus was $236 million, resulting in an annual cumulative surplus of $13.186 billion.

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Exports showed double-digit growth for 15 consecutive months until last month, but the growth rate of imports exceeded that of exports in the past 12 months due to a sharp rise in energy and raw material prices due to disruptions in the global supply chain.

Looking at the export trends of major items, petroleum products accounted for 88.3% of the total, showing a very high increase in export value. Semiconductors increased slightly to 1.9%. On the other hand, passenger cars decreased by 23.5%. Auto parts (-28.8%) and wireless communication devices (-27.5%) also decreased.

Looking at the export status by partner country, Singapore had the highest rate with 54.9%. Taiwan recorded 16.5%. On the other hand, China decreased by 6.8%, and the European Union (EU·-5.3%), Vietnam (-4.7%) and the United States (-2.1%) also decreased.

Imports of coal accounted for the largest increase at 155.4%. It was followed by crude oil (63.8%), semiconductors (40.2%), gas (30.2%), and petroleum products (24.5%). Passenger cars decreased by -34.8% and semiconductor maintenance by -6.5%.

By country, imports from Saudi Arabia were 75.9%, followed by Australia 43.1%, China 23.4%, the United States 13.3%, and Japan 1.9%. EU imports fell -3.3%.

According to the status of ‘exports and imports for June 1-20 (provisional value for customs clearance)’ announced by the Korea Customs Service on the 21st, exports from the 1st to 20th of this month decreased by 3.4% from the same period of the previous year as the number of working days decreased by two days due to public holidays. The picture is a vehicle waiting for export. (Photo=Newsis)

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Sejong = Correspondent Kim Jong-seo guse12@etomato.com

ⓒ Delicious News Tomato, reprinted without permission – redistribution prohibited

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