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Exports continue to rise in December amid strong chip sales

Collected: 2023.12.21

Distributed: 2023.12.22

Source: Go Direct

[Image source: Gettyimagesbank]

Rising overseas sales of chips drove South Korea’s exports to increase more than 10 percent in the first 20 days of December 2023, customs agency data showed on Thursday.

The latest data from the Korea Customs Service showed that exports reported between December 1 and 20 hit $37.8 billion, up 13 percent from the same period in 2022.

Exports rose 13 percent on average per working day over the month’s 15.5 working days, the same number of days as in 2022.

The country’s monthly exports continued a streak of surpluses since October following 12 months of decline.

Chip exports jumped 19.2 percent in the first 20 days of December, while imports fell by 9.2 percent on year to $36.2 billion during the period.

Korea posted a trade balance of $1.6 billion in December, which stands in sharp contrast to last December when the economy saw a trade deficit of $1.4 billion. The economy’s trade balance per month was in surplus for six months until November 2023.

By Pulse

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