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Simultaneous achievement of ‘total exports of $ 40 billion + daily average of $ 2 billion’
Ten iconic items and four export markets rose again at once
Korea’s exports recovered after seven months, registering the highest level this year.
The Ministry of Commerce, Industry and Energy announced on the 1st that September exports registered 48.05 billion dollars, an increase of 7.7% over the same period last year.
This is the first time since the new coronavirus infection (Corona 19) that exports have increased, and the export growth rate of 7.7% in September is the highest in 23 months since October 2018.
Exports to Korea went from a 3.6% increase in February to a 1.7% decrease in March due to the aftermath of Corona 19.
Since then, April (-25.6%), May (-23.8%), June (-10.9%), July (-7.1%) and August (-10.1%) continued to decline during 6 consecutive months, after 7 months. Become a growing trend.
The Industry Ministry said: “Even amid Crown 19, US-China trade disputes and low oil prices, our exports recovered and rebounded steadily after 7 months. It was a transition to a plus in a short period of time.
In September, the average daily amount of exports was $ 2.09 billion, achieving “ total exports of $ 40 billion + average daily exports of $ 2 billion ” at the same time. This is a recovery to the pre-Corona 19 level.
In addition, the total export volume and the average daily value of exports in September registered the highest levels of this year.
Of the 15 export items, 10 items were positive.
Semiconductors (11.8%), machinery in general (0.8%) and automobiles (23.2%), which are the first to third largest item in Korea’s exports, continued to grow in 23 months and supported all the exports.
Household appliances (30.2%) and secondary batteries (21.1%) achieved the best performance this year along with semiconductors, while biohealth (79.3%) and computers (66.8%) registered positive for more than one consecutive year.
Automobiles and auto parts (9.4%), machinery in general, textiles (11.4%) and steel (1.8%) registered an increase for the first time since Corona 19.
By region, exports to China, the largest market, increased by 8.2%, showing growth in all four markets, including the US (23.2%), Europe (15.4% EU) and ASEAN (4.3%) in 23 months.
In particular, ASEAN rebounded after 7 months after continuing a double-digit drop after Corona 19.
In September, revenue increased 1.1% to $ 39.17 billion, the first increase since Corona 19.
The trade balance was $ 8,880 million, with a surplus for five consecutive months, reaching the highest level in two years.
Industry Minister Seong Yun-mo said: “September’s exports turned into an advantage even under difficult conditions, but even if you look at the details, there are positive signs for our export recovery in many ways.”
Minister Seong said: “Even so, there are still risk factors such as the continued spread of Corona 19 and the conflict between the US and China, including sanctions from Huawei, so ongoing monitoring and response is necessary. active “. · We plan to switch to the online method and transform KOTRA into a central export platform ”.
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