Exports Rise 1.5% in First 20 Days of May

Exports edged up in the first 20 days of May on the back of strong exports of semiconductors.

According to preliminary data from the Korea Customs Service on Tuesday, the country’s outbound shipments marked 32-point-74 billion U.S. dollars in the cited period, up one-point-five percent year-on-year.

Average daily exports increased 17-point-seven percent, with the number of working days decreasing by two days to 12 and a half days.  

The slight increase was led by robust exports of semiconductors, which jumped 45-point-five percent during the period. Exports of petrochemical products and ships also increased one-point-nine percent and 155-point-eight percent, respectively. Exports of automobiles, however, dropped four-point-two percent. 

Imports decreased nine-point-eight percent from the same period last year to around 33 billion dollars during the period, resulting in a trade deficit of 304 million dollars.