South Korea’s Exports Jump 41 Percent, says an article on Pulse News.
40 percent growth
South Korea’s exports jumped 41 percent in the first 10 days of June against a year ago, keeping up a growth pace of above 40 percent for the third month.
The country’s exports totaled $17.28 billion for June 1-10, up 40.9 percent from the same period last year, showed data released by the Korea Customs Service on Friday. Daily exports soared 32.6 percent based on 8.5 working days, 0.5 days more than a year ago.
Even as the gains go against the pandemic-battered year-ago period, Koreas have been making a record streak in exports throughout the first half. Exports surged 41.2 percent in April and 46 percent in May.
Outbound shipments of automobiles rose 136.9 percent on the year, petroleum products 70.2 percent, semiconductors 37.5 percent, and wireless communication devices 18.9 percent.
Vessel deliveries fell 29.5 percent and display exports were down 16.1 percent on the year.
Shipments
By destination, Korea’s outbound shipments to the European Union leaped 85.0 percent, the United States 63.4 percent, Vietnam 41.5 percent, Middle East 39.6 percent, Japan 39.3 percent, and China 14.2 percent.
Imports in the first 10 days came to $17.89 billion, up 31.0 percent on the year.
Crude oil imports increased 163.9 percent, automobiles 79.2 percent, semiconductors 19.3 percent, and machinery 4.9 percent, whereas those of wireless communication devices and chip-making equipment decreased 19.7 percent and 13.1 percent, respectively.
By country, imports from the Middle East grew 65.9 percent, Australia 49.9 percent, China 23.9 percent, the EU 20.8 percent, Japan 16.8 percent, and the U.S 8.6 percent.
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Source: Pulse news
