Seoul:The Republic of Korea's exports more than doubled year-on-year during the first 20 days of October, reaching US$61.6 billion, driven by record shipments of semiconductors. This remarkable growth was highlighted in data released by the Korea Customs Service.
According to Wam, the daily average export value in terms of business days was US$4.74 billion, marking the highest for the first 20 days of any month. Imports also saw a significant increase, rising 42.8 percent year-on-year to US$47.1 billion during the same period, resulting in a trade surplus of US$14.5 billion.
In terms of sectors, chip exports surged 222.5 percent to US$27.5 billion, representing 44.7 percent of total exports and spearheading the overall growth. Petroleum product exports rose by 68.3 percent, automobiles by 40.9 percent, and steel products by 42.6 percent.
Regarding export destinations, shipments to China and the United States increased by 154.4 percent and 154.9 percent, respectively. Exports to Vietnam and the European Union also saw growth. From the start of the year through Tuesday, total exports reached US$876.3 billion, with a cumulative trade surplus of US$266.9 billion.