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South Korea's Exports Rise 3.8% Year-on-Year in Early January, Led by Semiconductors
2025-01-13
On January 13, South Korea's Customs Service announced that exports for the first ten days of the month totaled $16 billion, marking a 3.8% increase compared to the same period last year. Notably, semiconductor exports shone brightly, reaching $3.2 billion, a substantial 23.8% year-on-year growth. Additionally, exports of automobiles and ships also witnessed increases of 4.7% and 15.7%, respectively. Conversely, exports of petroleum products saw a sharp decline of 47%, falling from $1.6 billion in the corresponding period of 2022 to $0.9 billion. Exports of automotive parts also experienced a drop of 6.7%. During this period, imports amounted to $19 billion, a 2.6% increase year-on-year, leading to a trade deficit of $3 billion.
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