September 1–20 exports hit a record $71.4 billion, up 78.3% year on year

[Financial News] Exports from September 1 to 20 rose 78.3% to $35 billion, marking the highest level ever recorded for the same period. Semiconductor exports surged 259.4%, driving overall export growth. Semiconductors accounted for 47.8% of total exports, nearly half of the total.   According to the September 1–20 export and import figures released by the Korea Customs Service on the 21st, exports were provisionally tallied at $71.4 billion, up 78.3% from the same period last year. This was the highest export total ever recorded for the period, surpassing the previous record of $61.7 billion set by exports from June 1 to 20 this year.
 Average daily exports, adjusted for the number of working days, also rose 89.8% year on year to $4.61 billion. There were 15.5 working days during the period, one day fewer than a year earlier.
 By export item, semiconductors (259.4%), petroleum products (47.8%), and passenger cars (9.3%) posted increases, while wireless communication devices (-0.4%) declined. Semiconductor exports totaled $34.1 billion during the period, the highest level ever recorded. Semiconductors accounted for 47.8% of total exports, an increase of 24.1 percentage points.
 By destination, exports to China (113.8%), the United States (118.0%), Vietnam (44.8%), Taiwan (128.5%), and the European Union (37.0%) increased. The top three destinations—China, the United States, and Vietnam—accounted for 51.4% of total exports.
 Imports during the period reached $48.4 billion, up 26.7%. The trade balance recorded a surplus of $23 billion.
 By major import item, semiconductors (88.8%), crude oil (37.3%), and semiconductor manufacturing equipment (55.6%) increased, while petroleum products (-24.8%) declined. The value of energy imports, including crude oil, gas, and coal, rose 27.9%.
 By source, imports from China (48.7%), the European Union (16.7%), the United States (29.5%), and Japan (31.6%) increased, while those from Australia (-13.7%) declined.

[email protected] Kim Won-jun Reporter