Exports in early April started on an upward trend thanks to strong performances in semiconductors and automobiles. According to the Korea Customs Service on the 11th, exports from April 1 to 10 amounted to 18.6 billion dollars, a 13.7% increase compared to the same period last year.
Considering the number of working days, the average daily export value increased by 0.3% to 2.19 billion dollars, with 8.5 working days in the period from April 1 to 10, which is one day more than the same period last year (7.5 days).
Monthly export figures have continued to increase for two months up to last month. In January this year, the increase trend of the past 15 months was interrupted due to the impact of the Lunar New Year holiday and other factors.
When breaking down exports from April 1 to 10 by item, semiconductors (32.0%), passenger cars (11.9%), and auto parts (10.5%) saw increases. The export share of semiconductors rose by 2.5 percentage points to 18.3%.
However, exports in petroleum products (-3.9%) and computer peripherals (-14.1%) decreased. By country, exports to China (8.8%), the European Union (EU, 30.6%), Vietnam (14.3%), and Japan (0.7%) increased, while those to the United States decreased (-0.6%).
The export share to the top three regions, China, the US, and the EU, was 49.5%.
Imports from April 1 to 10 amounted to 19.7 billion dollars, a 6.5% increase. In terms of items, imports of crude oil (10.2%), semiconductors (15.5%), and machinery (10.3%) increased, while those of gas (-19.1%) and petroleum products (-7.3%) decreased.
By country, imports from China (4.7%), the United States (2.3%), Japan (15.1%), and Australia (19.9%) increased, while those from the EU (-18.7%) decreased. As the import value exceeded the export value, the trade balance recorded a deficit of 1.1 billion dollars.