S. Korea’s exports up 28.2% on yr in first 10 days of August

2017.08.11 13:00:47 | 2017.08.11 13:01:22

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South Korea’s exports kept up the growth momentum in the first ten days of August, gaining 28.2 percent on year thanks to unfazed demand in petroleum products and semiconductors.

According to Korea Customs Service data on Friday, Korean exports reached $12.4 billion in the cited period.

Exports have maintained double-digit growth since January. At this pace, Korean exports could end the month in the longest winning streak - 10 months in a row - since December 2011.

The main growth drivers were petroleum products and semiconductors, which jumped 76.6 percent and 52.9 percent, respectively. Ship delivery also rose 12.1 percent.

Mobile devices shipment fell 17.2 percent.

By country, exports to the U.S. grew 45.8 percent, followed by Vietnam 41.7 percent, EU 21.6 percent, China 19.7 percent and Japan 15.8 percent.

Daily volume of exports averaged $1.46 billion, up 28.2 percent from a year earlier.

Imports grew 14.5 percent over the same period to $14 billion to generate a trade deficit of $1.6 billion.

By Yoon Won-sup

[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]