S. Korea's exports in September set the highest at USD 55.83 billion

·3-min read
Hanjin Shipping's container terminal at Busan New Port. Photo/Reuters
Hanjin Shipping's container terminal at Busan New Port. Photo/Reuters

Seoul [South Korea], October 1 (ANI/Global Economic): South Korea's exports in September set a record high with solid performance of main export products such as semiconductors and petrochemicals.

South Korea's exports in September set a record high with solid performance of main export products such as semiconductors and petrochemicals.

The Ministry of Trade, Industry and Energy (MOTIE) announced on the 1st that exports in September posted $55.83 billion, up 16.7% year-on-year.

Even though working days were two days short in September, exports achieved the highest record since trade statistics began to be compiled in 1956.

As a result, Korea's exports gains have been extended to 11 consecutive months. Exports have continued to rise from November (3.9%) last year to December (12.4%), January (11.4%), February (9.5%), March (16.6%), April (41.1%), May (45.6%), June (39.7%), July (29.6%), and August (34.9%).

The average daily exports also recorded the highest level with $2.66 billion, setting a record high in both total exports and daily average exports.

An official from the MOTIE said, "Since the largest exports achieved in July 2021, exports hit an all-time high again in just two months."

Imports increased by 31% to $51.62 billion last month. During the same period, the trade balance remained in the black for 17 consecutive months at $4.2 billion.

In addition, exports to all nine major regions showed an increase.

The products with the highest growth export rate in major regions were wireless communication devices (162%) in China, petrochemicals (100%) in the U.S., automobiles (23%) in Europe, and displays (31%) in ASEAN.

The Ministry of Trade, Industry and Energy (MOTIE) announced on the 1st that exports in September posted $55.83 billion, up 16.7% year-on-year.

Even though working days were two days short in September, exports achieved the highest record since trade statistics began to be compiled in 1956.

As a result, Korea's exports gains have been extended to 11 consecutive months. Exports have continued to rise from November (3.9%) last year to December (12.4%), January (11.4%), February (9.5%), March (16.6%), April (41.1%), May (45.6%), June (39.7%), July (29.6%), and August (34.9%).

The average daily exports also recorded the highest level with $2.66 billion, setting a record high in both total exports and daily average exports.

An official from the MOTIE said, "Since the largest exports achieved in July 2021, exports hit an all-time high again in just two months."

Imports increased by 31% to $51.62 billion last month. During the same period, the trade balance remained in the black for 17 consecutive months at $4.2 billion.

In addition, exports to all nine major regions showed an increase.

The products with the highest growth export rate in major regions were wireless communication devices (162%) in China, petrochemicals (100%) in the U.S., automobiles (23%) in Europe, and displays (31%) in ASEAN. (ANI/Global Economic)

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