Korea’s exports jump 111.9% in Nov. 1-10, nearing $1 tn for year

Résumé détaillé

Cumulative exports reached $963.7 billion as of Tuesday. If the current daily export pace continues, Korea is expected to surpass $1 trillion in annual exports for the first time…

South Korea’s exports more than doubled in the first 10 days of November from a year earlier, driven by continued strength in semiconductor shipments, bringing cumulative exports this year close to the $1 trillion mark.

According to preliminary data released by the Korea Customs Service on Wednesday, exports totaled $33.5 billion in the November 1-10 period, up 111.9 percent from a year earlier.

The figure was the highest ever for the first 10 days of November and the second-largest for any 10-day period, after $35.1 billion in the first 10 days of September.

The period had 7.5 working days, half a day more than a year earlier. Adjusted for the difference in working days, average daily exports rose 97.7 percent to $4.46 billion.

Cumulative exports reached $963.7 billion as of Tuesday. If the current daily export pace continues, Korea is expected to surpass $1 trillion in annual exports for the first time around November 20.

Semiconductor exports surged 331.2 percent to $16.6 billion, the highest figure for the period on record and the largest increase among major export items. Semiconductors accounted for 49.7 percent of total exports, up 25.3 percentage points from a year earlier and the highest share for the first 10 days of any month.

Exports of petroleum products and computer peripherals rose 100.7 percent and 237.7 percent, respectively, while passenger car exports fell 4.3 percent.

Exports to China, the United States, Vietnam, Taiwan and the European Union increased 148 percent, 163.6 percent, 113.3 percent, 182.5 percent and 20 percent, respectively. China, the U.S. and Vietnam accounted for a combined 57.3 percent of total exports.

Imports rose 45 percent to $24.7 billion, resulting in a trade surplus of $8.8 billion, the largest on record for the same period.

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