South Korean exports in the first 20 days of November sustained double-digit growth on revived global and seasonal year-end demand ahead of the third coronavirus wave in the country.

Outbound shipments in the Nov. 1-20 period rose 11.1 percent to $31.3 billion, according to the Korea Customs Service on Monday. Average daily shipments gained 7.6 percent, or $130 million, during the 16 business days in the period.

Monthly exports slid for six straight months from March as a result of the coronavirus outbreak. Shipments rebounded 7.6 percent in September on increased business days but retreated 3.6 percent in October.

Exports of wireless communication devices surged 36.2 percent over the cited period, semiconductors 21.9 percent and automobiles 11.9 percent. Petroleum products slumped 48.2 percent, home appliances 3.1 percent and computer-related devices 1.9 percent.

Exports to the U.S. rose 15.4 percent, China 7.2 percent and Europe 31.4 percent. Shipments to Japan fell 7.2 percent, Middle East 21.8 percent and Australia 15.2 percent.

Imports in the period climbed 1.3 percent on year to $28 billion, resulting in a trade surplus of $3.31 billion.

Imports of chips expanded 26.4 percent, machinery 11.7 percent and precision equipment 15.3 percent. Crude oil imports plunged 46.9 percent and gas 30.2 percent. Wireless communication devices were off 0.2 percent.

Imports from China gained 16.7 percent, Europe 31.7 percent and Japan 16.7 percent. Imports from the U.S. tumbled 19.5 percent, Middle East 43.5 percent and Vietnam 7.9 percent.

By Kim Hyo-jin

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