S. Korea's exports up 6.4 pct during first 10 days of Nov. on robust chip, auto demand
South Korea's exports went up 6.4 percent from a year earlier in the first 10 days of this month, data showed Tuesday, Yonhap reports.
Outbound shipments reached US$15.8 billion in the Nov. 1-10 period, compared with $14.9 billion tallied a year earlier, according to the data from the Korea Customs Service.
Imports increased 8.2 percent on-year to $17 billion during the period, resulting in a trade deficit of $1.2 billion.
The agency attributed the increase in outbound shipments to strong global demand for semiconductors, automobiles and ships.
Chip exports jumped 17.7 percent on-year to $3.86 billion, accounting for 24.4 percent of the country's total exports during the cited period.
Car exports advanced 16.2 percent to $1.54 billion, while ship exports climbed 8.7 percent to $654 million.
On the other hand, shipments of petroleum products dipped 14 percent to $991 million, and steel exports contracted 13.4 percent to $874 million, apparently due to U.S. tariff effects.
Shipments of wireless communication devices decreased 21.1 percent to $465 million.
By destination, exports to China rose 11.9 percent to $3.7 billion, and exports to the United States expanded 11.6 percent to $2.6 billion.
Exports to the European Union also increased 10 percent to $1.4 billion.
Shipments to Vietnam, however, declined 11.5 percent to $1.5 billion, and those to Japan dropped 11.9 percent to $655 million.
In October, exports grew 3.6 percent from a year earlier to $59.57 billion on the back of strong demand for semiconductors, marking the fifth consecutive month of increase.
Earlier, it was reported Japan logs a record 17.51 tril. yen current account surplus in April-September.
