The Korea Customs Service reported on May 21 that exports from May 1 to May 20 totaled $52.652 billion, marking a 64.8% increase compared to the same period last year. This figure surpasses the previous record of $38.6 billion set in May 2022.
When adjusted for working days, the average daily export amount was $3.9 billion, a 52.6% increase, despite one fewer working day compared to the previous year.
By category, semiconductor exports soared to $21.951 billion, a remarkable 202.1% increase, setting a new record for the period. Semiconductors accounted for 41.7% of total exports, up 19 percentage points from a year earlier.
Exports of computer peripherals also skyrocketed by 305.5%, while petroleum product exports rose by 46.3%. However, exports of passenger cars and home appliances saw declines of 10.1% and 6.3%, respectively.
Regionally, exports to major markets increased significantly, with China up 96.5%, the United States up 79.3%, Vietnam up 70.2%, Taiwan up 110.4%, and the European Union up 21.7%. The combined share of the top three countries—China, Vietnam, and the United States—accounted for 51.8% of total exports.
During the same period, imports rose by 29.3% to $41.618 billion.
In terms of categories, imports of semiconductors increased by 55.5%, semiconductor manufacturing equipment by 116.2%, machinery by 11.9%, and petroleum products by 58.6%.
Notably, energy imports, including crude oil, gas, and coal, rose by 23.9% compared to last year.
The import of crude oil, directly affected by the Middle Eastern conflict, increased by 26.4% to $6.052 billion, influenced by rising international oil prices and a strong won-dollar exchange rate.
Imports from China, the United States, the European Union, Japan, and Vietnam all saw increases, while imports from Russia decreased by 6.3%.
With exports exceeding imports, the trade balance recorded a surplus of $11.034 billion.
* This article has been translated by AI.
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