South Korea's exports in the first 10 days of December reached $2.058 billion, resulting in a small trade deficit of $70 million. Semiconductor exports surged 45.9%, accounting for more than a quarter of total export value. China remained the main market, growing 12.9%, while exports to the United States declined 3.2% amid tariff measures.
11 December 2568 – Korea Customs Service (KCS) It was revealed that the country's export value in the first 10 days of December (December 1-10) increased by 17.3% compared to the same period last year, reaching US$20.58 billion ($2.058 billion) from US$17.54 billion the previous year. This growth was primarily driven by strong demand for semiconductors and an increase in the number of working days.
While imports during the same period increased by 8% year-on-year to $20.65 billion, South Korea recorded a small trade deficit of $70 million during the first 10 days of the month.
KCS specify that Exports of high-tech products are a key driving factor:
- Semiconductor chips: Exports surged 45.9% year-on-year to reach $5.27 billion, accounting for 25.6% of the country's total exports in early December.
- Petroleum products: It increased by 23.1% year-on-year, reaching $1.51 billion.
- Steel: It rose 1.9% to $1.19 billion.
however Conversely, exports of some product categories have contracted:
- car It contracted by 5.7% year-on-year to $1.36 billion.
- ship It plunged sharply by 47.7% to $567 million.
Considering the end markets, exports to China, South Korea's main export market, increased by 12.9% to $4.23 billion. Conversely, exports to the United States decreased by 3.2% to $3.57 billion, amid the implementation of new US tariffs.
While exports to other key markets showed outstanding growth, including:
- Vietnam : It surged as much as 35.8% to reach $2.13 billion.
- European Union (EU): It increased by 2.6% to reach $1.59 billion.
Export data from early December continues the positive trend from November, when South Korea's exports rose 8.4% to a record high of $61.04 billion for November. This is also supported by strong demand for semiconductors.
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