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Biz News Korea(Eng)

Korea’s exports gain 3.3% during 10 days of December

Collected: 2023.12.11

Distributed: 2023.12.12

Source: Go Direct

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[Photo by Yonhap]

South Korea’s exports surged by more than 3 percent in the first 10 days of December from a year ago, driven by strong demand for vessels and automobiles.

According to the Korea Customs Service on Monday, the country’s outbound shipments stood at $15.79 billion between December 1 and 10, up 3.3 percent from the same period last year.

The average daily value of exports, adjusted for business days, increased by 18 percent. There were seven business days during the 10-day period, one less than last year.

By product, ship exports grew 141.3 percent and passenger vehicles rose 13.2 percent. Semiconductor exports, however, declined by 4 percent. The share of semiconductor exports also decreased by 1.2 percentage points to 16 percent.

Imports for the first 10 days of the month totaled $17.19 billion, down 15.3 percent from last year, resulting in a trade deficit of $1.46 billion. The deficit was smaller than $1.74 billion in the same period last month. The year-to-date trade deficit stands at $15.85 billion.

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