[서울신문] Semiconductor·Automobile’wings’… February, the average daily export value of 2.3 billion yen, the highest ever

Greater anticipation for global economic and trade recovery
Number of working days increased by at least 9.5% on 3 days compared to last year
Export-led semiconductors 13.2%, automobiles 47%↑
Petrochemical and biohealth also increased by double digits
By region, the Chinese, US and EU markets have increased for the fourth month

Last month, Korea’s daily average exports rose 26.4% to $2.3 billion, the largest increase in 40 months since October 2017. In terms of daily average exports, it ranked first in February, and the total exports ranked second in February. It is analyzed that exports have been on the rise for four consecutive months since last November and have entered a full recovery phase.

The Ministry of Trade, Industry and Energy announced on the 1st that the export value in February recorded 44.8 billion dollars, an increase of 9.5% from the same month last year. Last month, total exports increased for four consecutive months, even though the number of working days was three days less than in February of last year. The monthly export growth rate returned from -3.9% in October last year to 3.9% in November, followed by 12.4% in December and 11.4% in January this year. As expectations for the global economy and trade recovery grow, exports are expected to continue rising for the time being. However, the possibility of border blockade due to the re-proliferation of Corona 19 and the expansion of conflict between the United States and China can act as variables.

Among the 15 major items, 11 increased, driving exports. In particular, semiconductors and automobiles were dominated. Semiconductors increased by 13.2%, increasing not only for the eighth consecutive month, but also continued the double-digit increase for six consecutive months. Total exports (8.37 billion dollars) and daily average exports (430 million dollars) are the second best performance ever since February 2018. In automobiles, $3.53 billion was exported, a 47% increase. After January (40.3%), it was only 10 years and 6 months that showed an increase of more than 40% for two consecutive months.

In addition to semiconductors and automobiles, petrochemical products (22.4%) also improved earnings due to rising oil prices and growing global demand. Information and communication items such as diagnostic kits, biohealth (62.5%) and displays (19.1%) also increased by double digits, contributing to total exports.

On the other hand, four items, including petroleum products (-15.2%), general machinery (-5.6%), textiles (-23.7%), and computers (-4.1%), stepped back. However, the decline in petroleum products, which had declined in the 30-60% range since April last year, has slowed to 15.2%.

By region, exports to the three major markets: China (26.5%), the United States (7.9%), and the European Union (EU 48.2%) increased for four consecutive months. In particular, exports to China increased by 20% for two consecutive months.

Last month’s income increased by 13.9% to $42.1 billion. The trade balance was $2.71 billion, a surplus for 10 consecutive months.

Sejong, Senior Reporter Ryu Chan-hee [email protected]