February 1-20 exports 30.4 billion dollars, 16.7%↑… Green light for 4 consecutive months increase

▲ From February 1st to 20th, exports recorded $30.4 billion, an increase of 16.7% year-on-year ⓒYonhap News

The possibility of export growth for the fourth consecutive month has increased since last November, as exports continued to be strong in February.

According to the’Import and Export Status on February 1-20′ announced by the Korea Customs Service on the 22nd, exports during this period were $30.4 billion and imports were $31.6 billion.

Exports increased by 16.7% ($43.6 billion) compared to the same period last year, and imports also increased by 24.1% ($61.4 billion). When considering the number of working days, the average daily export amount is $2.17 billion, and the increase rate reaches 29.2%.

As of the 20th, the cumulative annual export amount was 77.8 billion dollars, an increase of 13.4% (92.8 billion dollars), and imports rose 11.3% (76.8 billion dollars) to 77.5 billion dollars. Accordingly, the trade balance is recording a surplus of $2.56 billion.

By item, semiconductor exports increased 27.5% for eight consecutive months, while passenger cars and wireless communication devices increased 45.9% and 33.6%, respectively.

On the other hand, petroleum products and computer peripherals decreased by 5.7% and 4.8%, respectively.

▲ Import and export status from February 1st to 20th (Unit: million dollars, %) ⓒCustoms Service data

By country, exports to the three major markets such as China, the United States, and the EU increased 32.7%, 14.0%, and 53.6%, respectively, and exports to Japan also increased by 6.5%, turning to an increase. The Middle East and Singapore fell by 31.3% and 21.0%, respectively.

An official from the Ministry of Industry said, “As export momentum recovers, we operate the private-public joint export support system at all times to take measures to support export companies such as trade finance and marketing, while also operating a risk management system such as exchange rate and logistics in a timely manner to promote export revitalization. I will continue.”