December exports of $51.4 billion Semiconductor 30%↑ (complementary)

Announced’December 2020 and annual exports’ by the Ministry of Industry
12.6% increase over the previous year… Average daily export is also the highest
Plus 11 export items… Continued robust IT items
Annual total exports exceeded $500 billion for 4 consecutive years

[아시아경제 김보경 기자] In December of last year, exports increased by 12.6% compared to the same month of the previous year to record 5.11 billion dollars. The export double-digit increase is the first in 26 months. The daily average exports also increased (7.9%), showing a clear recovery in export performance.

According to the’December 2020 import and export trend’ released by the Ministry of Trade, Industry and Energy on the 1st, exports in December recorded $5.11 billion, an increase of 12.6% from the same month last year.

The average daily exports, taking into account the number of working days, reached 2.14 billion dollars, the highest this year, up 7.9% from the same month last year.

Both total and average daily exports increased for the second consecutive month. Total exports increased for the second consecutive month in 25 months, and the double-digit increase is the first in 26 months. It is the first time in 25 months that exports have exceeded 50 billion dollars.

Exports in December of last year were the sixth highest in history, the highest of all exports in December.

Of the 15 major exports, 11 were positive, the largest increase since 2019.

With the prolonged new coronavirus infection (Corona 19), the non-face-to-face economy was revitalized. All six IT-related items, including semiconductors, wireless communication devices, and computers, increased for two consecutive months.

Last month, semiconductors increased 30.0%, the highest growth rate since August 2018. Semiconductor exports increased for the sixth consecutive month and double-digit growth for the fourth consecutive month.

Display exports reached 2.11 billion dollars, a record high in exports last month. Wireless communication equipment recorded the highest growth rate in five years and two months.

Exports to the four major markets recorded positive for the second consecutive month, with seven of the nine major export destinations increasing.

Meanwhile, exports in 2020 amounted to 5128 billion dollars, down 5.4% from the previous year. Total annual exports exceeded $500 billion for four consecutive years.

An official from the Ministry of Industry said, “Amid the sluggish exports of major countries, our exports were relatively good.”

According to statistics from the World Trade Organization (WTO), Korea is the fourth-best among the top 10 exporting countries in terms of export growth.

The Ministry of Industry explained, “For the first time in the four periods in which global trade declined since 2000, our export performance exceeded that of global trade for the first time last year.”

Sejong = Reporter Kim Bo-kyung [email protected]