Exports rise 52% in first 20 days of July as overseas semiconductor shipments nearly triple

Korea’s exports rose 52.3 percent from a year earlier in the first 20 days of July as overseas shipments of semiconductors nearly tripled due to the ongoing AI boom, customs data showed on Tuesday.

Outbound shipments reached $54.9 billion from July 1 to Monday compared to the $36 billion tallied in the same period last year, according to data from the Korea Customs Service.

Imports went up 20 percent on year to $42.7 billion over the cited period, resulting in a trade surplus of $12.2 billion.

By sector, exports of semiconductors continued to lead overall gains by jumping 180 percent to $22.1 billion.

Outbound shipments of petroleum products moved up 33.4 percent to $3.41 billion, while exports of automobiles fell 10.6 percent to $3.24 billion.

Exports of steel products and ships rose 11.1 percent and 70.8 percent, respectively, to $2.64 billion and $2.44 billion.

By destination, exports to China nearly doubled to $13.3 billion, and those to the United States rose 39.6 percent to $8.96 billion.

Cumulative exports this year through Monday came to $551.2 billion, up 48.7 percent from a year earlier.

Yonhap