Seoul: South Korea's exports increased by 3.8 percent in the first ten days of September compared to the previous year, driven by strong demand for semiconductors and vessels, data showed on Thursday. Outbound shipments amounted to $19.2 billion during this period, up from $18.5 billion a year earlier.
According to Yonhap News Agency, while overall exports rose, the daily average volume of exports saw a decrease of 8.7 percent compared to the same period last year. This decline occurred despite the number of working days increasing to 8.5 from 7.5 days a year earlier. Imports surged by 11.1 percent year-on-year to $20.4 billion, leading to a trade deficit of $1.2 billion.
In terms of specific items, semiconductor exports saw a significant rise of 28.4 percent from the previous year, reaching $4.45 billion. This sector accounted for 23.2 percent of South Korea's total exports during the period, showing a 4.5 percentage point increase from the same period last year. Additionally, vessel exports experienced a substantial growth of 55.3 percent year-on-year, totaling $900 million.
Geographically, exports to the United States declined by 8.2 percent to $2.96 billion, attributed to tariff measures imposed by President Donald Trump's administration. Conversely, exports to China, South Korea's largest trading partner, saw a modest increase of 0.1 percent, reaching $3.92 billion.
In August, South Korea's exports rose by 1.3 percent year-on-year to $58.4 billion, supported by strong global demand for semiconductors, despite the ongoing tariff policies from the Trump administration.