Containers are stacked at a port in Pyeongtaek, Gyeonggi Province, Jan. 1. Yonhap
Korea’s exports went down 2.3 % from a yr earlier within the first 10 days of January regardless of sturdy outbound cargo of semiconductors, information confirmed Monday.
Outbound shipments reached $15.55 billion within the Jan. 1-10 interval, in contrast with $15.92 billion tallied a yr earlier, in keeping with the information from the Korea Customs Service.
In distinction, common every day exports climbed 4.7 % on-year to $2.22 billion, in keeping with the customs workplace. The variety of working days in the course of the interval got here to 7 days, in contrast with 7.5 days a yr earlier.
Imports decreased 4.5 % on-year to $18.21 billion in the course of the interval, leading to a commerce deficit of $2.7 billion, the information confirmed.
Robust demand for semiconductors amid an business upcyle was offset by weaker exports of cars, vessels and metal merchandise.
Chip shipments spiked 45.6 % from a yr earlier to $4.64 billion. The quantity accounts for 29.9 % of the nation’s complete exports in the course of the 10-day interval, up 9.8 share factors from a yr earlier.
Vehicle exports tumbled 24.7 % on-year to $1.01 billion, whereas shipments of vessels shed 12.7 % to $923 million. Exports of metal merchandise additionally plunged 18.7 % on-year to $976 million.
By vacation spot, exports to China, Korea’s high buying and selling companion, elevated 15.4 % to $3.87 billion, however exports to the US decreased 14.7 % on-year to $2.27 billion.
Shipments to Taiwan spiked 55.4 % to $852 million, whereas these to the European Union tumbled 31.7 % to $1.1 billion.
In December, exports expanded 13.4 % from a yr earlier to $69.6 billion on sturdy demand for semiconductors, marking the eleventh consecutive month of an on-year improve.
For 2025, outbound shipments reached an all-time excessive of $709.7 billion, surpassing the $700 billion mark for the primary time.
