July exports increase by 9.5 percent with notable gains in semiconductors and automobiles

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July exports increase by 9.5 percent with notable gains in semiconductors and automobiles

Published: 11 Jul. 2025, 18:57 Updated: 11 Jul. 2025, 19:59

Audio report: written by reporters, read by AI

Containers are piled up at a port in Pyeongtaek, Gyeonggi, on July 4. [YONHAP]

July exports started on an upward trend, driven by favorable sales of key items such as semiconductors, automobiles and ships.

Exports from July 1 to Thursday reached $19.4 billion, up 9.5 percent from the same period a year earlier, according to the Korea Customs Service on Friday.

Taking the number of working days into account, daily average exports came to $2.28 billion per day. The number of working days during the same period — 8.5 days — was unchanged from last year. Exports returned to growth with a 4.3 percent increase after a one-month dip. Despite challenges like new U.S. tariffs, exports this year have grown compared to a year ago every month except January and May.

By product category, exports of semiconductors were up 12.8 percent, passenger vehicles rose 13.3 percent, and ships surged 134.9 percent, all contributing significantly to the overall increase. Semiconductors accounted for 19.7 percent of total exports, up 0.6 percentage points from a year ago. The growth was driven by demand for high-value-added products and rising prices.

While exports to the United States fell due to category-specific tariffs, automobile exports to the European Union rose, mainly due to strong demand for electric vehicles.

Cars ready for export are parked at a port in Pyeongtaek, Gyeonggi, on July 7. [NEWS1]

On the other hand, exports of petroleum products were down 1.9 percent, and wireless communication devices fell 13.7 percent.

By country, exports increased to China by 6.2 percent, the United States by 6.1 percent, the European Union by 3.6 percent and Vietnam by 2.3 percent. Exports to Hong Kong declined by 43.1 percent.

Imports from July 1 to Thursday totaled $20 billion, up 1.8 percent from a year earlier. Imports of crude oil increased by 4.9 percent, machinery by 17.2 percent, and gas by 21.9 percent. Imports of semiconductors dropped by 4.5 percent, and petroleum products fell by 27.4 percent.

By country, imports from China rose by 2.2 percent, the European Union by 18.3 percent, and Japan by 6.8 percent, while those from the United States decreased by 13.1 percent and Taiwan by 9.1 percent.

As imports outpaced exports, Korea posted a trade deficit of $600 million during the period.

Translated from the JoongAng Ilbo using generative AI and edited by Korea JoongAng Daily staff.
BY LEE JI-YOUNG [[email protected]]