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Korea’s exports up 24.4% on year in first 20 days of June

Collected: 2017.06.22

Distributed: 2017.06.26

Source: Go Direct

Korea’s exports until June 20 this month have gained 24.4 percent on year for a dramatic turnaround from a 12.2 percent plunge in the first 10 days thanks to reinvigorated shipbuilding activity.

According to Korea Customs Service data on Wednesday, Korean exports reached $31.9 billion in the cited period.

Ship delivery jumped by 111.4 percent. Semiconductors gained 51.1 percent and petroleum products 5.3 percent.

At such a rate, Korea will be able to extend its growth streak for eight straight months, the longest gain since December 2011.

By country, exports to Vietnam rose 57.7 percent, trailed by Japan 22.2 percent, and China 7.4 percent.

Exports to the U.S. and the Middle East fell by 8.4 percent and 3.1 percent, respectively.

Considering working days, daily volume of exports averaged $2.2 billion, up 24.4 percent from the previous year.

Imports over the same period grew 20.7 percent to $26.5 billion to deliver a trade surplus of $5.4 billion

By Cho Si-young

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