Containers are stacked at a port in Pyeongtaek, Gyeonggi Province, Nov. 14. Yonhap
Korea’s exports elevated 8.4 p.c from a yr earlier in November to over $61 billion, extending the profitable streak to the sixth consecutive month on the again of sturdy demand for semiconductors, authorities information confirmed Monday.
Outbound shipments got here to $61.04 billion final month, the best for any November, based on the info compiled by the Ministry of Commerce, Business and Assets.
Imports gained 1.2 p.c year-on-year to $51.3 billion, leading to a commerce surplus of $9.73 billion.
Gathered exports within the January-November interval reached $640.2 billion, a file excessive for the cited interval.
Semiconductor exports soared 38.6 p.c year-on-year to an all-time month-to-month excessive of $17.26 billion final month, led by a continued rise in reminiscence chip costs sparked by sturdy demand for high-value merchandise for information facilities.
Auto exports climbed 13.7 p.c to $6.41 billion on sturdy efficiency of inner combustion automobiles and hybrid vehicles.
Shipments of wi-fi communication units added 1.6 p.c to $1.73 billion, and shipments of secondary batteries went up 2.2 p.c to $670 million.
Exports {of electrical} gear, agro-fisheries merchandise and cosmetics expanded 5.2 p.c, 3.3 p.c and 4.3 p.c, respectively, to $1.27 billion, $1.04 billion and $950 million.
However exports of petroleum merchandise dipped 10.3 p.c to $3.28 billion, whereas exports of petrochemical merchandise dropped 14.1 p.c to $3.06 billion amid world oversupply.
By area, exports to the US slipped 0.2 p.c year-on-year to $10.35 billion in November.
Intimately, semiconductor and auto exports to the U.S. superior 39 p.c and 11 p.c to $1.1 billion and $2.2 billion, respectively, within the first 25 days of the month. However shipments of metal merchandise to the U.S. plunged 24 p.c year-on-year to $200 million, with equipment exports contracting 18 p.c to $800 million.
Exports to China gained 6.9 p.c to $12.07 billion on sturdy demand for semiconductors, petroleum and equipment merchandise.
Shipments to the Affiliation of Southeast Asian Nations (ASEAN) rose 6.3 p.c to $10.42 billion, led by semiconductors, and shipments to the Center East jumped 33.1 p.c to $2.18 billion.
Shipments to the European Union decreased 1.9 p.c to $5.34 billion on weaker metal and ship demand.
