South Korea's Exports Surge 65% in First 20 Days of May, Led by More Than Doubled Chip Sales

Deep News05-21

Data released by South Korean customs on Thursday shows that the country's exports for the first 20 days of May increased by 65% compared to the same period last year, with semiconductor exports more than doubling.

From May 1 to 20, South Korea's exports reached $52.7 billion, up from $31.9 billion a year earlier.

Imports grew by 29.3% to $41.6 billion, resulting in a trade surplus of $11 billion.

By industry, semiconductor exports surged by 202% to $21.9 billion, while petroleum product exports rose by 46.3% to $3.23 billion.

Chip exports accounted for 41.7% of total exports, an increase of 19 percentage points from the same period last year.

In contrast, automobile exports declined by 10.1% to $2.76 billion.

By destination, exports to China grew by 96.5%, followed by the United States (79.3%) and Vietnam (70.2%). Exports to the European Union increased by 21.7%.

As of May 20, South Korea's cumulative exports for the year have reached $359.1 billion, marking a 43.9% increase compared to the same period last year.

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