South Korea’s exports jumped 16 percent from a year earlier in the first 20 days of this month on strong shipments of semiconductors and automobiles, data showed Friday.
Outbound shipments reached $35.3 billion in the Feb. 1-20 period, compared with $30.4 billion tallied a year earlier, according to the data from the Korea Customs Service.
Imports went up 7.7 percent on-year to $34.5 billion during the period, resulting in a trade surplus of $800 million, the data showed.
The daily average volume of exports, on the other hand, fell 2.7 percent on-year over the cited period, according to the trade agency. The number of working days during this period stood at 15.5, compared with 13 days a year earlier.
“Overall, in February, exports of IT-related products, such as semiconductors and computers, as well as automobiles, are expected to remain strong,” Cho Ik-no, an industry ministry official, said. “We anticipate a rebound in exports and a return to a trade surplus.”
In January, the country’s exports posted their first on-year decline in 16 months, largely due to fewer working days caused by the extended Lunar New Year holiday, which also snapped the country’s 18-month streak of trade surplus.
By sector, exports of semiconductors jumped 22.1 percent on-year to $6.5 billion in the first 20 days of February, reflecting an upswing cycle in the semiconductor industry.
Shipments of automobiles skyrocketed 40.3 percent on-year to $3.6 billion.
In contrast, outbound shipments of petroleum products decreased 9.7 percent on-year to $2.6 billion.
By destination, exports to China, the top trading partner of South Korea, went up 13.6 percent to $6.6 billion. Shipments to the United States also jumped 16 percent on-year to $6.6 billion. (Yonhap
