S. Korea's exports soar 40.9% on-year in first 10 days of June
Updated: 2021-06-11 13:39:19 KST
South Korea's exports in the first ten days of this month jumped more than 40 percent from a year ago thanks to strong demand for cars and semiconductors.
Shipments rose the most to the European Union and the United States.
Kim Jae-hee has the details.
South Korea's exports rose on-year in the first ten days of this month, thanks to increased shipments of chips and cars.
According to preliminary data from the Korea Customs Service on Friday, exports from June 1st to June 10th this year soared 40.9 percent compared to the same period last year, to 17.3 billion U.S. dollars.
Taking into account more working days at the start of this month, daily average exports were up by 32.6 percent.
The growth was largely due to increased demand for semiconductors, cars and petroleum products,.. as well as a rebound from last year's low numbers.
Outbound shipments of semiconductors the country's key export item-- jumped by more than 37 percent and automobiles alone gained nearly 137 percent.
Overseas sales of petroleum products rose by over 70 percent on-year, and exports of wireless communications devices saw a near 19 percent increase.
By country, exports to China --South Korea's largest trading partner grew some 14 percent on-year,.and exports to the U.S. surged around 63 percent.
Shipments to the European Union were up 85 percent, and those to Vietnam and Japan also went up.
One expert notes recent export figures clearly reflect a recovery in the global economy.
"There's increasing demand overseas as the global economy recovers from the impact of the COVID-19 pandemic. Exports in the second half of the year will keep increasing as the global economy continues a modest uptrend but I believe the growth of exports may slow down slightly."
Meanwhile imports climbed 31 percent on-year in the first 10 days of June to roughly 17.9 billion dollars resulting in a trade deficit of about 612 million dollars over the ten-day period.
Kim Jae-hee, Arirang News.