H1 Exports Break US$300 Bil. Mark for 1st Time Ever

South Korea’s exports in June surged 39.7 percent from a year ago.

The Ministry of Trade, Industry and Energy announced on July 1 that South Korea’s exports totaled US$54.8 billion last month, up 39.7 percent from a year ago.

It is the highest June figure. In addition, South Korea’s H1 exports broke the US$300 billion mark for the first time ever. Its monthly exports increased year on year for the eighth consecutive month and exceeded US$50 billion for the fourth consecutive month.

Its 15 major export items showed an increase in exports without exception. For example, semiconductor exports added up to US$11.16 billion with a year-on-year increase of 34.4 percent. General machinery and petrochemical exports were US$4.71 billion and US$4.64 billion, respectively. Automobile exports increased 62.5 percent year on year to US$4.05 billion and auto parts exports surged 108.2 percent to US$1.96 billion.

Last month, South Korea’s exports to China, the United States and the European Union rose 14.3 percent, 51.9 percent and 65.3 percent, respectively. In addition, those to the ASEAN region and Japan rose 37.5 percent and 39.6 percent, respectively. Those to Latin America, India, the Middle East and the CIS region increased 106.5 percent, 100.2 percent, 21.5 percent and 24.6 percent, respectively. The exports to China totaled US$13.08 billion and those to the United States added up to US$8.71 billion.

That day, the Korea Trade-Investment Promotion Agency estimated South Korea’ total exports for this year at up to US$610 billion, up 17 percent to 19 percent from the previous year.

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