September exports rose 7.7% … First rebound in 7 months after breaking the crown

Korea’s exports recovered for the first time seven months after the ‘Corona 19’ outbreak.

Positive signals emerged as major items such as semiconductors and automobiles were revived and exports to major markets such as the United States and China were reactivated.

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.

The export growth rate of 7.7% in September was the highest in 23 months since October 2018.

In addition, both total exports and average daily exports recorded the highest levels this year.

In September, average daily exports amounted to $ 2.89 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.

The main exports and the main export markets showed a recovery.

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%), the European Union (EU15.4% ) and ASEAN (4.3%) in 23 months.

In particular, ASEAN rebounded after 7 months after continuing a double-digit drop after Corona 19.

September revenue increased 1.1% to $ 39.17 billion, the first increase since Corona 19.

The trade balance was $ 8,880 million, a surplus for five consecutive months and reached the highest level in two years.

Industry Minister Sung Yun-mo said: “September exports turned into an advantage even in 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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