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South Korea’s exports kept up growth streak for seven months in a row with the volume adding 3.4 percent from a year-ago period to $25.4 billion in the first 20 days this month due to robust shipments of electronics components and petrochemical products and their higher selling value, Korea Customs Service data showed.
Although monthly data would likely rack up positive figure for the longest months since December 2011, exports would sharply shrivel from $51 billion of April.
In daily terms, shipments rose 11.6 percent on year to average $2.04 billion up to May 20.
Exports of semiconductors and petrochemicals jumped 41.0 percent and 35.2 percent, respectively. Those of wireless devices plunged 39.9 percent and auto parts down 20.3 percent.
By nation, exports to Vietnam surged 48.3 percent, Japan 9.1 percent and China 2.0 percent. Shipments to the Middle East plummeted 25.5 percent, the U.S. 6.5 percent and the European Union 5.8 percent.
The nation’s import reached $24.8 billion as of May 20, up 11.7 percent over the same period, to deliver a trade surplus of $690 million.
By Ko Jae-man
Copyrights Pulse by Maeil Business News Korea. All Rights Reserved.
Source: Pulse by Maeil Business News Korea (May. 22, 2017)