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Biz News Korea(Eng)

Korea’s exports up 16.4% on yr in Dec 1-20, surplus at $2.1 bn

Collected: 2017.12.21

Distributed: 2017.12.22

Source: Go Direct

South Korea’s exports extended double-digit gains in December with year-on-year growth of 16.4 percent in the first 20 days on strong semiconductor and ship orders, according to the Korea Customs Service (KCS) Thursday.

Exports reached $31.5 billion as of Wednesday with daily volume averaging $2.03 billion, also up 16.4 percent from the same period last year.

Given the pace, exports would be ending December in a 14-month growth streak.

The main drivers were semiconductors and ships, which jumped 80.5 percent and 48.8 percent respectively, compared to a year ago. Petroleum products exports also soared 29.2 percent on year.

Shipments of automobiles plunged 29.5 percent on year and mobile communication devices 23.4 percent.

By country, exports to Vietnam expanded 27.4 percent, China 20.9 percent, and the United States 3.0 percent. Shipments to countries in the Middle East and the European Union declined 16.1 percent and 5.9 percent, respectively.

Imports over the same period grew 19.5 percent to $29.4 billion to deliver a trade surplus of $2.1 billion.

By Chun Jung-hong and Cho Jeehyun

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