Exports Reach $53.3 Billion from March 1–20, Highest Ever for the Period...Semiconductor Shipments Soar 163.9%

According to Financial News, exports from March 1 to 20 reached $53.3 billion, up 50.4% from a year earlier, driven by strong semiconductor shipments. This marked the highest export value ever recorded for the same period. Semiconductor exports during this time came to $18.7 billion, a surge of 163.9% year-on-year, also setting a new record high.
Provisional trade data for March 1–20 released by the Korea Customs Service (KCS) on the 23rd showed exports of $53.3 billion, an increase of 50.4% from the same period last year. This is the highest figure ever for that calendar period. Taking working days into account, average daily exports rose 40.4% to $3.55 billion. There were 15 working days in this period, one more than a year earlier.
By major export item, shipments increased for semiconductors (163.9%), passenger cars (11.1%), petroleum products (49.0%), and computer peripherals (269.4%), while exports of ships fell 3.9%. In particular, semiconductor exports reached $18.7 billion, the highest ever for the same period. Semiconductors accounted for 35.0% of total exports, up 15.1 percentage points from a year ago.
By export destination, shipments to China (69.0%), the United States of America (U.S.) (57.8%), Vietnam (46.4%), and the European Union (EU) (6.6%) all increased, while exports to the Republic of Singapore declined 8.5%.
Imports during the same period also rose, climbing 19.7% year-on-year to $41.2 billion. As a result, the trade balance posted a surplus of $12.1 billion. As of the end of February, Korea had recorded a trade surplus for 13 consecutive months.
By major import item, inflows of semiconductors (34.3%), crude oil (27.8%), and semiconductor manufacturing equipment (10.4%) increased, while gas imports fell 6.4%. Overall energy imports, including crude oil, gas, and coal, rose 18.8%.
By country, imports from China (24.8%), the U.S. (33.4%), the EU (23.0%), Japan (17.0%), and Taiwan (13.0%) all increased.
Meanwhile, exports last month totaled $67.45 billion, up 29% from a year earlier. It was the highest figure ever for February and marked the ninth consecutive month of export growth.

kwj5797@fnnews.com Kim Won-jun Reporter