Exports Continue to Increase for 14 Consecutive Months

Korea’s exports in November increased by 1.4%, continuing to increase for the 14th consecutive month. The largest export item, semiconductors, continued to increase with the largest exports in November, while automobile exports turned negative due to decreased production and shipping disruptions caused by bad weather.
Exports to the United States and China turned negative, however, slightly decreasing compared to those of last year.
November’s exports amounted to $56.35 billion, up 1.4% from the same month last year. Korea’s exports have continued to increase for 14 consecutive months since the growth rate turned from negative to positive in October last year.
Looking at the trends of the 15 major export items, semiconductor exports increased for 13 consecutive months.

November’s semiconductor exports amounted to $12.5 billion, up 30.8% from the same month last year. This is the largest performance in November ever.
From January to November this year, semiconductor exports increased by 45.4% from the same period last year to $127.4 billion, also breaking the record high.
Computer product exports, including Solid State Drives (SSDs), increased by 122.3% to $1.4 billion, increasing for the 11th consecutive month. Wireless communication device exports increased by 19.7% from last year to $2 billion.
However, the exports of automobiles, the second largest export item after semiconductors, decreased by 13.6% from last year to $5.6 billion in November.
Biohealth exports increased by 19.6% from last year to $1.4 billion, maintaining a positive trend for five consecutive months, and achieving the highest-ever performance in November.
Steel exports, which shook off the previous slump and turned to positive exports in October, increased by 1.3% to $2.7 billion, maintaining an increase for the second consecutive month following the previous month.
Ship exports also turned positive, reaching $2.5 billion, up 70.8% from the same month last year.
By region, exports to the two major markets, the USA and China, decreased by 5.1% and 0.6%, respectively, turning negative.
In November, exports to China were $11.3 billion, recording over $11 billion for the fifth consecutive month, but down 0.6% compared to the same month last year. Exports to the United States were worth $10.4 billion, exceeding $10 billion for the third consecutive month, but down 5.1% from last year.

 
 
korean-electronics.com | Blog Magazine of korean electronics, brands and Goods