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$ 39.17 billion in revenues … Increase of 1.1% over the previous year
Trade surplus of $ 88.8 billion … Highest in 2 years
According to the Ministry of Commerce, Industry and Energy on September 1, exports in September amounted to 48.05 billion dollars, an increase of 7.7% compared to the same month last year. Imports also increased 1.1% to $ 39.17 billion. The trade balance for September registered a surplus of $ 8,880 million, maintaining a surplus for five consecutive months. The average daily value of exports, which reflects the number of business days, was $ 2.89 billion.
Exports rebounded to positive for the first time in seven months after March, when the aftermath of the crown 19 had a full impact and were negative. The 7.7% increase over the previous year is the highest in 23 months since October 2018. In particular, total exports of $ 40 billion and a daily average of $ 2 billion, which was the level before Corona 19, were the highest this year.
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| Pyeongtaek Port Container Dock [사진=평택항만공사] 2020.09.01 [email protected] |
Imports were also the first positive after Corona 19, and the trade balance reached $ 8.88 billion, the highest level in two years, due to relatively strong exports.
Of the 15 main items, the exports of 10 items, the highest annually, registered a positive. Semiconductors, machinery in general and automobiles, which are the first, second and third most important export items, registered positive results in 23 months. Semiconductor exports rose 11.8%, topping $ 9 billion for the first time this year and posting a double-digit growth rate. Machinery rose 0.8%, posting the highest export value and growth rate since Corona 19. Automobiles rose 23.2% to a positive mark in six months, reaching the highest level this year.
In addition, exports to the four main markets, including China (8.2%), the United States (23.2%), the European Union (EU, 15.4%) and ASEAN, which account for 66% of exports in 23 months, they registered positive results. ASEAN recovered positively after 7 months.
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