Exports up 60% in first 20 days of June on robust chip sales

Containers bound for export are stacked at a port in Busan, Tuesday. Yonhap

Korea's exports jumped 60.4 percent from a year earlier in the first 20 days of June, data showed Monday, setting a new fresh high for the period amid robust shipments of semiconductors.

Outbound shipments reached $62 billion in the June 1-20 period, compared with $38.6 billion tallied in the same period last year, according to the data from the Korea Customs Service.

It marked the highest 20-day figure on record, surpassing the previous high of $54.3 billion posted in March this year.

Imports went up 23.2 percent on-year to $44.5 billion over the cited period, resulting in a trade surplus of $17 billion, the latest findings showed.

By sector, exports of chips nearly tripled to $25.5 billion amid soaring global demand for memory driven by the artificial intelligence (AI) industry.

Semiconductors accounted for 41.2 percent of total exports, up 18.3 percentage points from a year earlier.

Exports of automobiles and petroleum products also rose 2.3 percent and 39 percent, respectively, to $3.73 billion and $3.67 billion.

Outbound shipments of auto parts, meanwhile, fell 9.5 percent to $1.1 billion.

By destination, exports to China jumped 86.9 percent to $13 billion, while those to the United States soared 53.9 percent to $11.4 billion.

Shipments to Vietnam and the European Union increased 75.5 percent and 13.6 percent, respectively.

Korea's combined exports this year through Saturday came to $456.4 billion, up a sharp 45.6 percent from the same period a year earlier.