Exports up 8.2% on-year during first 20 days of November on chip, auto demand
Containers stacked at a port in Busan, July 7. Newsis
Korea's exports recorded an 8.2 percent on-year gain in the first 20 days of November mainly on the back of strong global demand for semiconductors and automobiles, data showed Friday.
Outbound shipments reached $38.5 billion from Nov. 1 to Thursday, compared with $35.6 billion tallied a year earlier, according to the data from the Korea Customs Service.
Imports increased 3.7 percent on-year to $36.1 billion during the period, resulting in a trade surplus of $2.4 billion.
The agency attributed the increase in outbound shipments to a rise in global demand for semiconductors and automobiles despite U.S. tariff measures.
Chip exports jumped 26.5 percent on-year to $9.75 billion, accounting for 25.3 percent of the country's total exports during the cited period.
Car exports advanced 22.9 percent to $3.81 billion, while ship exports gained 2.3 percent to $1.15 billion.
In contrast, shipments of petroleum products dropped 19.3 percent to $2.14 billion, and steel exports contracted 9.2 percent to $2.25 billion.
By destination, exports to China rose 10.2 percent to $8.22 billion, and exports to the United States expanded 5.7 percent to $6.78 billion.
Exports to the European Union also increased 4.9 percent to $3.58 billion.
In October, exports grew 3.6 percent from a year earlier to $59.57 billion on the back of strong demand for semiconductors, marking the fifth consecutive month of increase.