Semiconductors Drive August Exports to Record High in Early Days of Month

Fueled by a significant surge in semiconductor exports, South Korea's exports for the first ten days of August reached an all-time high.

The Korea Customs Service announced that exports from August 1 to 10 totaled 21.3 billion dollars, marking a 45.3% increase compared to the same period last year.

The daily average export value, adjusted for working days excluding holidays, also increased by 45.3%.

The number of working days during this period was 7, the same as last year.

Semiconductors, petroleum products, and computer peripherals drove up the overall export figures.

Semiconductor exports surged 155.4% to reach 9.952 billion dollars (approx. 14.1 trillion won), hitting a record high for early August.

The proportion of semiconductors in total exports stood at 46.8%, rising more than 20 percentage points from the same period last year.

Exports of petroleum products and computer peripherals also saw substantial increases, rising 65.3% and 139.5%, respectively.

By country, exports increased to China (134.8%), Vietnam (45.4%), Hong Kong (259.4%), and the European Union (57.2%), while exports to the United States edged down 0.2% over the year.

Imports rose 23.1% from the same period last year to 19.488 billion dollars.

This increase was driven by sharp rises in imports of semiconductors and semiconductor manufacturing equipment, which grew 90.8% and 77.3%, respectively.

By country, imports from major nations all increased, including China (48.3%), the United States (38.2%), Japan (47.3%), and the European Union (15.9%).

With exports surpassing imports over the ten-day period, the trade balance recorded a surplus of 1.798 billion dollars.

The cumulative trade surplus for this year through the 10th reached 169.558 billion dollars, approaching 170 billion dollars and coming in at 5.2 times the surplus recorded during the same period last year.
※ Please note: This article was translated by AI and may contain errors.