Four consecutive months of strong exports plus… February exports $44.81 billion ‘9.5%↑’

Exports in February increased 9.5% year-on-year, recording positive exports for the fourth consecutive month since November last year.

As a result of the’February import and export status’ announced by the Ministry of Trade, Industry and Energy on the 1st, the export amount reached $44.8 billion, an increase of 9.5% year-on-year.

During this period, imports rose 13.9% to $42.1 billion, while the trade balance was $2.71 billion, continuing a surplus for 10 consecutive months.

The average daily export value in February was $2.29 billion, an increase for five consecutive months, and the average daily export growth rate of 26.4% was the highest in 40 months.

In particular, it is the first time since December 2017 to March 2018 that both’total exports’ and’average daily exports’ increased simultaneously in February for four consecutive months.

The average daily exports ranked first in February, and total exports ranked second in February, following 46.2 billion dollars in 2012.

Among the 15 items, 11 items including semiconductors, automobiles, petrochemicals, car parts, steel, ships, wireless communication devices, displays, home appliances, biohealth, and secondary batteries increased.

Semiconductor exports recorded 8.37 billion dollars, setting second place in February. Compared to the same period of the previous year, the export volume increased by 13.2%, continuing the increase for the eighth consecutive month.

Automobile exports also increased by 47.0%, an increase of more than 40% for the second consecutive month in 10 years and 6 months.

For petrochemical and petroleum products, earnings improved markedly due to rising oil prices and growing global demand. Petrochemicals increased 22.4% for the second consecutive month, showing the highest growth rate since October 2018.

BioHealth continued to increase for 18 consecutive months with a 62.5% increase in diagnostic kit exports, and IT items are recording positives for more than 4 consecutive months, with displays rising 19.1%.

However, exports of petroleum products decreased by -15.2%, but the rate of decline was the best since April last year, when the effects of Corona 19 began in earnest.

Exports to the three major markets, including China, the United States, and the EU by country, increased 26.5%, 7.9%, and 48.2%, respectively, for the fourth consecutive month.

In particular, exports to China rose by 20% for two consecutive months, and exports to EU recorded the highest growth rate in 46 months due to the propaganda of ships, automobiles, and biohealth, revealing the export prospects this year.