Exports double in 1st 20 days of October on robust chip shipments
Summary
Korea’s exports more than doubled in the first 20 days of October, with shipments reaching $61.6 billion amid strong semiconductor exports. The Korea Customs Service said the total was a record for the period, while the daily average export value also set a record for the first 20 days of any month. Imports rose 42.8 percent to $47.1 billion, leaving a $14.5 billion trade surplus.
Key Facts
- Chip exports jumped 222.5 percent to $27.5 billion, a record for the first 20 days of October.
- Chips accounted for 44.7 percent of Korea’s total exports, up 16.2 percentage points from a year earlier.
- Exports of petroleum products rose 68.3 percent to $3.94 billion, automobile exports increased 40.9 percent to $3.35 billion, and steel exports climbed 42.6 percent to $2.58 billion.
- Exports to China rose 154.4 percent to $16.6 billion, while shipments to the United States increased 154.9 percent to $10.7 billion.
- From Jan. 1 through Tuesday, exports totaled $876.3 billion, up 59.5 percent year on year, and the trade surplus reached $266.9 billion.

Containers bound for export are stacked at a port in Busan, Oct. 1. Yonhap
Korea's exports more than doubled during the first 20 days of October, customs data showed Wednesday, amid the robust shipments of semiconductors.
Outbound shipments reached $61.6 billion in the Oct. 1-20 period, according to the data from the Korea Customs Service.
It marked the highest figure for the first 20 days of October on record.
The daily average export value in terms of business days also reached $4.74 billion, the highest for the first 20 days of any month.
Imports went up 42.8 percent on-year to $47.1 billion over the cited period, resulting in a trade surplus of $14.5 billion.
By sector, exports of chips vaulted 222.5 percent to $27.5 billion to set a fresh record for the 20-day period of October, leading the overall gains.
The portion of chips in Korea's total exports came to 44.7 percent, up 16.2 percentage points from a year earlier.
Outbound shipments of petroleum products rose 68.3 percent to $3.94 billion, while those of automobiles increased 40.9 percent to $3.35 billion.
Exports of steel products climbed 42.6 percent to $2.58 billion.
By destination, exports to China soared 154.4 percent to $16.6 billion, and those to the United States surged 154.9 percent to $10.7 billion.
Shipments to Vietnam and the European Union rose 74.6 percent and 78.2 percent, respectively.
The combined exports from Jan. 1 through Tuesday came to $876.3 billion, soaring 59.5 percent from a year earlier. The total trade surplus so far this year came to $266.9 billion, the latest report showed.
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