Exports log 6.8% on-year gain during first 20 days of December

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Exports log 6.8% on-year gain during first 20 days of December

Containers are stacked at the Port of Pyeongtaek in Pyeongtaek, Gyeonggi, on Nov. 14. [YONHAP]

Containers are stacked at the Port of Pyeongtaek in Pyeongtaek, Gyeonggi, on Nov. 14. [YONHAP]

 
Korea's exports grew 6.8 percent from a year earlier in the first 20 days of this month, mainly on the back of strong global demand for semiconductors, data showed on Monday.
 
Outbound shipments reached $43 billion from Dec. 1 to 20, compared to $40 billion tallied over the same period last year, according to data from the Korea Customs Service.
 

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This marks an all-time high for the period. The previous record was set last year.
 
The increase comes despite U.S. tariff measures, thanks to strong demand for semiconductors, according to the agency.
 
Chip exports jumped 41.8 percent on year to $11.65 billion, accounting for 27.1 percent of the country's total exports during the cited period.
 
In contrast, shipments of cars dropped 12.7 percent to $3.25 billion, and petroleum exports contracted 1 percent to $2.63 billion.
 
By destination, exports to China rose 6.5 percent to $8.58 billion, while exports to the United States shrank 1.7 percent to $7.87 billion, the data showed.
 
Exports to the European Union fell 14 percent on year to $3.71 billion.
 
Imports inched up 0.7 percent on year to $39.2 billion during the period, resulting in a trade surplus of $3.8 billion.
 
In November, exports grew 8.4 percent from a year earlier to $61 billion, marking the sixth consecutive month of increase on the back of strong demand for semiconductors.

Yonhap
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