As summer heat grips South Korea, portable fans and air conditioners from China are flying off the shelves.
According to trade data released by the General Administration of Customs of China on August 7, the value of goods exported to South Korea in July reached $18.1195 billion, a 46.6% increase compared to the same period last year.
On August 10, the Chinese state-run Global Times analyzed that exports to South Korea surged due to the heatwave. The report noted that since the onset of the heat, a variety of products, including frozen beverages, portable handheld fans, and cooling products for pets, have been exported in large quantities to South Korea. The geographical proximity allowed China to respond quickly to the rising demand for these products driven by the heat.
In line with South Korea's beverage demand, there was a significant increase in the export of frozen fruit juices from China, along with a surge in exports of cooling mats and collars for pets. Additionally, air conditioning units ranked sixth among the top export items to South Korea based on HS codes, with sales of air conditioners also expected to show high growth rates.
Meanwhile, the value of South Korean imports from China soared by 97.78% year-on-year to $31.046 billion. This increase is attributed to a spike in DRAM prices, which boosted South Korea's semiconductor exports to China. In July, South Korea recorded a trade surplus of $12.9 billion with China.
According to the General Administration of Customs of China, the cumulative value of exports to South Korea in July reached $110.8 billion, a 33.3% increase, while imports rose by 67.0% to $169.6 billion. South Korea's trade surplus with China for the year to date stands at $58.8 billion.
* This article has been translated by AI.
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