Early October Exports Surge to $26.1 Billion Led by Semiconductors, Reaching Record High

Driven by the soaring semiconductor exports, export values for the early part of this month have doubled.

According to the Korea Customs Service, exports for the first 10 days of this month reached approximately $26.1 billion, representing a 102% increase compared to the same period last year.

This marks the largest scale ever recorded for the same period.

During this period, the number of working days stood at 5.5 days, which is two days more than the same period last year. Even when factoring in the working days, the average daily export value increased by 28.5% to $4.75 billion, setting a record high for the corresponding period.

By product category, semiconductor exports surged by 170.9% to reach $12.2 billion, also setting a record high for the same period.

Semiconductors accounted for 46.7% of total exports, an increase of 11.9 percentage points from a year earlier.

Exports of major products also increased, including petroleum products up 45.6%, passenger cars up 82.7%, steel products up 49.4%, and wireless communications equipment up 62.6%, while ship exports decreased by 13.4%.

By country, exports to major markets increased, including China up 167.3%, the United States up 159.9%, and Vietnam up 89.7%.

Notably, the export share of the top three countries—China, the United States, and Vietnam—stood at 52.3%.

Import values came to $22.3 billion, up 65.5% from the same period last year.

By product category, imports of crude oil increased by 56.2%, semiconductors by 66.7%, and gas by 125.5%, while petroleum products decreased by 10.9%.

Energy imports, including crude oil, gas, and coal, jumped by 64.8%, which appears to be influenced by rising crude oil import prices due to situations in the Middle East.

By country, imports increased from China up 84.4%, the United States up 57.6%, the EU up 87.7%, and Japan up 80.1%.

With exports surpassing imports, the trade balance recorded a surplus of $3.8 billion, which is also the largest ever recorded for the October 1–10 period.
(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.