South Korea Jun 1-20 exports rise on-year, first time in 10 months

SOUTH Korea’s exports for the first 20 days of June rose 5.3 per cent from the same period a year before, customs agency data showed on Wednesday (Jun 21).

It was the first time since August 2022 that 20-day exports data logged a year-on-year gain, the agency said.

Exports of cars jumped 110.1 per cent, ships surged 148.7 per cent, but semiconductors and petroleum products fell 23.5 per cent and 36.0 per cent, respectively.

By destination, shipments to the United States and European Union gained 18.4 per cent and 26.4 per cent, respectively, while those to China fell 12.5 per cent.

Exports were down 2.0 per cent on average per working day, however, as there was one more business day this year.

Imports fell 11.2 per cent, bringing the country’s trade balance for the period to a deficit of US$1.61 billion.

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South Korea will release its full monthly trade data on Saturday, Jul 1. REUTERS