SEOUL, October 21 (AJP) — South Korea's chip-led export boom remained firmly intact through the first 20 days of October, with monthly outbound shipments more than doubling from a year earlier to a record $61.6 billion.
Exports jumped 105.4 percent from a year earlier, while imports rose 42.8 percent to $47.1 billion, leaving a trade surplus of $14.5 billion, according to preliminary data from the Korea Customs Service (KCS).
The headline increase was amplified by greater working days, with 13 days during the period this year compared with 10.5 days a year earlier.
Even after adjusting for the difference, average daily exports surged 65.9 percent to $4.74 billion, the highest ever for the first 20 days of a month and keeping up close to record average of $4.75 billion in the first 10 days of October.
Semiconductor exports more than tripled from a year earlier, surging 222.5 percent to $27.5 billion, the highest ever for the October 1-20 period.
Chips accounted for 44.7 percent of total exports, up 16.2 percentage points from a year earlier.
The increase also extended beyond semiconductors.
Exports of computer peripherals surged 424.0 percent to $2.43 billion, while petroleum product shipments rose 68.3 percent to $3.95 billion.
Passenger car exports increased 40.9 percent to $3.36 billion, while steel products rose 42.6 percent and auto parts gained 40.4 percent.
Shipments to major trading partners also increased sharply.
Exports to China jumped 154.4 percent to $16.7 billion, while shipments to the United States rose 154.9 percent to $10.8 billion.
Exports to Vietnam increased 74.6 percent to $5.01 billion, while shipments to the European Union climbed 78.2 percent to $4.46 billion.
China, the United States and Vietnam together accounted for 52.7 percent of total exports.
Imports also rose across major categories, though at a slower pace than exports.
Semiconductor imports increased 78.4 percent to $7.57 billion, while crude oil imports rose 42.9 percent to $7.45 billion.
Gas imports more than doubled, rising 112.4 percent to $2.82 billion. Combined imports of crude oil, gas and coal increased 53.5 percent from a year earlier.
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