Korea’s July 1-10 exports up 14.1% on yr, losing some of the sizzling steam in past 3 mos

2021.07.12 13:14:37 | 2021.07.12 13:18:53

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Korea’s exports added 14.1 percent on year in the first 10 days of July, or 21 percent on daily average, keeping up growth momentum since November but losing steam from around 40 percent surge in the past three months.

According to data released by Korea Customs Service on Monday, the country’s exports amounted to $15.08 billion for July 1-10, up 14.1 percent from the same period last year. Daily exports rose 21.2 percent based on 8.5 working days, 0.5 day shorter than a year ago.

Exports have been strengthening since November last year, with growth at around 40 percent for the last three months to deliver the best first-half performance of $303.24 billion.

Outbound shipment of petroleum products jumped 54.2 percent on year, automotive parts 45.3 percent, wireless communication devices 19.3 percent, and semiconductor chips 15.6 percent. But computer peripherals exports fell 31.5 percent on year.

By destination, exports to the United States increased 32.2 percent, to European Union 26.9 percent, to Middle East 17.8 percent, Japan 12.2 percent, Vietnam 4.6 percent, and China 1.6 percent.

Imports for the first 10 days of July totaled at $19.01 billion, up 33.3 percent on year.

Auto imports shot up 165.7 percent, crude oil 85.7 percent, gas 80.6 percent and semiconductors 19.1 percent, whereas wireless communication devices imports dropped 23.9 percent.

By country, imports from Australia increased 86.7 percent, EU 49.6 percent, U.S. 48.8 percent, Middle East 23.5 percent, China 11.8 percent, and Japan 8.9 percent.

By Cho Jeehyun

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