▲ Container Port
Exports in the early part of August reached an all-time high, fueled by a significant increase in semiconductor shipments.
The Korea Customs Service announced today (the 11th) that preliminary customs clearance data for August 1 to 10 showed exports totaled $21.3 billion, up 45.3% from the same period last year.
This marks the largest ever export figure for the early part of August, surpassing the previous record of $15.6 billion set in August 2022.
With the number of working days standing at 7, the same as last year, the average daily export value rose 45.3% year-on-year to $3.04 billion.
By product, semiconductor exports surged 155.4% to $10 billion, marking the largest figure ever recorded for the early part of August.
Semiconductors accounted for 46.8% of total exports, a 20.1 percentage point increase from the same period last year.
This is the second-highest figure on record, following the final confirmed figure of 47.0% recorded in the early part of May.
Exports of petroleum products and computer peripherals also increased by 65.3% and 139.5%, respectively.
On the other hand, wireless communications devices decreased by 9.1%, while ships and passenger cars dropped significantly by 58.2% and 80.9%, respectively.
The decline in passenger car exports is attributed to the summer vacation season—during which production is adjusted—being concentrated in early August this year, unlike last year when it was spread across late July and early August.
By country, exports to China, Vietnam, Hong Kong, and the European Union increased by 134.8%, 45.4%, 259.4%, and 57.2%, respectively.
However, exports to the United States edged down 0.2% due to factors including decreased passenger car shipments.
The top three countries—China, Vietnam, and the United States—accounted for 52.5% of total exports.
During the same period, imports rose 23.1% year-on-year to $19.5 billion.
By product, imports of semiconductors and semiconductor manufacturing equipment increased by 90.8% and 77.3%, respectively, while crude oil and gas decreased by 16.9% and 10.0%, respectively.
Energy imports, including crude oil, gas, and coal, fell by 13.8%.
This is analyzed to be the result of a decrease in energy imports such as crude oil, centered around the Middle East region.
Imports by country increased from China, the United States, Japan, and the European Union, while decreasing from countries such as Saudi Arabia.
With exports exceeding imports, the trade balance recorded a surplus of $1.8 billion.
※
Copying, redistribution, and unauthorized use in AI training are strictly prohibited.