Income is $446 billion
December’s exports of $50 billion were the first
Last month, Korea’s exports were the highest in December. The Ministry of Trade, Industry and Energy announced on the 1st that in December of last year, exports amounted to 54.1 billion dollars, an increase of 12.6% from the previous year.
During the same period, income increased by 1.8% to $446 billion. The trade balance stood at $6.94 billion, which remained in the black for eight consecutive months.
This is the first time that exports in December exceeded $50 billion. It is the 6th largest amount ever, even by month. So far, there have been only 15 months in which exports have exceeded $50 billion.
The average daily export value, excluding the impact of the date of consolidation, was 2.14 billion dollars, replacing the highest performance this year. The growth rate was 7.9%, the highest in two years.
By item, 11 items such as semiconductors, general machinery, ships, displays, wireless communication devices, car parts, home appliances, computers, biohealth, secondary batteries, and textiles out of the 15 major items showed strong strength.
Among them, all six items related to information and communications (IT) increased for the second consecutive month following last month.
Semiconductor exports increased 30.0% year-on-year, continuing a double-digit growth rate for the fourth consecutive month. It has been on the rise for the last six months on the back of strong mobile and PC demand.
Display and wireless communication device exports increased 28.0% and 39.8%, respectively.
In addition, secondary batteries (7.6%) continued for 4 months, home appliances (23.4%) for 6 months, and computers (14.7%) for 15 consecutive months.
By region, exports increased in 7 out of 9 regions. This is the highest level in 26 months since October 2018.
In particular, exports to China (3.3%), the US (11.6%), the European Union (26.4%), and ASEAN (19.6%), which account for 66% of our exports, recorded a positive for the second consecutive month. This is the first time in 3 years and 3 months since September 2017.
Exports to Japan also increased by 1.4%, turning positive after nine months since March this year. In addition, exports to Latin America (20.1%) and India (16.8%) were also good.
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