In the first 20 days of March, South Korea’s exports rose 12.5% year-on-year to $33.87 billion, according to data released by South Korea’s customs office on Monday. The number of commencement days was 15.5 days, a year-on-year decrease of 0.5 days. Based on the actual working days, the average daily export volume increased by 16.1% year on year.
By export category, the export of Semiconductors (13.6%), automobiles (13%), petroleum products (12.4%), wireless communication equipment (4.7%) and auto parts (2%) increased, while the export of home appliances (- 9.3%) decreased.
In terms of export destinations, exports to the European Union (37.5%), China (23.4%), the United States (7.4%) and Vietnam (5.2%) decreased, but exports to the Middle East (- 27.9%) and Japan (- 10.7%) decreased.
Over the same period, South Korea’s imports amounted to US $33.05 billion, up 16.3% year on year. Among them, imports of natural gas (28.2%), machinery (23.3%), semiconductor (4.7%) and petroleum products (4%) increased. Imports from Australia (55%), the European Union (31.9%), China (17.3%), the United States (12.8%) and Japan (7.7%) increased.