Korea's Exports Hit Another All-Time High... Semiconductor Exports Surge 205.8% Through the 10th

Korea Customs Service Releases June 1-10 Trade Statistics
Total Exports Reach USD 28.6 Billion, Up 85.9%

Korea's exports continue to reach record highs. As of the 10th of this month, semiconductor exports more than tripled compared to the same period last year, driving the strong export performance.

According to provisional figures released by the Korea Customs Service on June 1, exports from June 1 to 10 totaled USD 28.6 billion, up 85.9% from the same period last year. This is the highest figure ever recorded for this period. The previous record was USD 25.2 billion in April of this year.

Export containers are being loaded onto a ship at Busan North Port. Photo by Jinhyung Kang

The number of working days was seven, which is 1.5 days more than the same period last year. Taking this into account, average daily exports amounted to USD 4.09 billion, marking a 46.1% increase.

Robust semiconductor exports led the overall export growth. Semiconductor exports reached USD 11.068 billion, a 205.8% increase from the same period last year, setting a new all-time high. As a result, the share of semiconductors in total exports expanded by 15.1 percentage points to 38.7%. Exports of all of the top 10 major items increased, including petroleum products (68.7%), passenger cars (25.4%), ships (52.0%), steel products (39.1%), and computer peripherals (259.4%).

Exports to all of the top 10 major countries also increased. Exports to China and the United States rose by 101.4% and 54.4%, respectively. Vietnam (102.9%), the European Union (EU, 46.0%), Taiwan (134.0%), Malaysia (208.0%), and Japan (36.6%) also saw strong growth.

As of the 10th of this month, imports amounted to USD 23.4 billion, a 35.6% increase from the same period last year. By item, imports of semiconductors (71.3%), crude oil (42.9%), semiconductor manufacturing equipment (52.2%), machinery (21.2%), and gas (13.7%) all increased. By country, imports from China (57.4%), the United States (34.6%), the EU (20.9%), Japan (31.3%), and Taiwan (43.6%) all rose.

With exports increasing more than imports from June 1 to 10, the trade surplus reached USD 5.282 billion. Consequently, the cumulative trade surplus from January 1 to June 10 this year stood at USD 10.7454 billion.

This content was produced with the assistance of AI translation services.