According to the Korea Customs Service, from May 1st to the 10th, the export amount increased by 16.5% compared to the previous year, reaching $1.681 billion. By item, semiconductor exports increased by 52%, petroleum products by 14.1%, passenger cars by 8.9%, and ships by 193.6%.
Monthly exports have been on the rise for seven consecutive months from October last year to last month. By export destination, exports to China increased by 9.7% and to the United States by 12.5%. The export amount to China surpassed that to the US, totaling $3.511 billion and $2.863 billion, respectively.
In recent trends, exports to China have been surpassing those to the US, a change that was also evident in the early days of this month.
During the same period, the import amount decreased by 6.7% year-on-year to $1.736 billion, resulting in a trade deficit of $554 million, a significant reduction from the deficit a year ago.