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The number of working days is affected, but … Bounce over crown
The Driving Force of Increased Auto and Semiconductor Exports
-September import and export status data (provisional) –
◆ … National exports managed to recover for the first time in 7 months after overcoming the aftermath of the new coronavirus infection (Corona 19). (Yonhap News photo)
Due to the aftermath of the new coronavirus infection (Corona 19), the performance of domestic exports, which has continued to decline since March, recovered after 7 months.
According to the status of exports and imports (provisional) data for September released by the Korean Customs Service on the 1st, compared to the same period last year, exports increased by 7.7% (34.2 billion dollars) and imports by 1.1% (4.3 billion dollars). Last month’s export performance was $ 48 billion and imports were $ 39.2 billion, and the trade balance after imports deducted from exports posted a surplus of $ 8.9 billion (during five consecutive months).
As for the performance of Korean exports this year, after an increase in February (3.6%), it turned into a decrease from March (-1.7%). Since then, April (-25.6%), May (-23.8%), June (-10.9%), July (-7.1%) and August (-10.1%) continued to decline during six consecutive months, followed by September (7.7%) rebounded after 7 months.
However, it was found that the average daily value of exports, taking into account the number of business days, decreased by 4.0%. The number of working days in September last year during Chuseok was 20.5 days, and in this case it was 23 days.
In this regard, the Minister of Commerce, Industry and Energy, Seong Yun-mo, said that “September exports became a plus even in difficult conditions, but even if you look at the details, there were positive signs for the recovery of our exports in many ways. ” .
As Minister Seong said, it is notable that semiconductors (11.8%) and automobiles (23.2%) played a role as the engine of the positive transition between the main export items.
According to data from the Ministry of Commerce, Industry and Energy, semiconductors (11.8%), automobiles (23.2%), household appliances (30.2%), secondary batteries (21.1%), biohealth (79.3% ), computers (66.8%) and auto parts (9.4%), machinery in general (0.8%), textiles (11.4%) and steel (1.8%) increased exports of 10 items.
An official from the Korean Customs Service said: “Some figures may be corrected until the annual statistics (February 2021) are confirmed based on the date of receipt of the report.”
