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Korea's exports soar 18% in January!
  • Registration date2024-02-05
January 2024 Trade Summary Ministry of Trade, Industry and Energy Korea's Exports UP 18% YoY POST DOUBLE-DIGIT GROWTH for first time in 20 months!
Ministry of Trade, Industry and Energy January 2024 Trade Summary Korea's January exports posted double-digit growth for the first time in 20 months, growing for the fourth consecutive month! 13 out of 15 major export items increased in export value and semiconductors recorded 56.2% in growth, the steepest in 73 months! Exports to China snapped the losing streak in 20 months at $10.7 bln (up 16.1%) and exports to the U.S. also hit an all-time high for the month of January with $10.2 bln!
Ministry of Trade, Industry and Energy January 2024 Trade Summary Exports, $54.7 billion, UP 18.0% YoY Imports, $54.4 billion, Down 7.8% YoY Trade Balance, $0.3 billion, Trade Surplus
Ministry of Trade, Industry and Energy January 2024 Trade Summary Key Points for January Exports & Imports Exports post double-digit growth for first time in 20 months, growing for the 4th consecutive month 13 out of 15 major export items achieve growth (highest in number since May 2022) - Semiconductors ($9.4 bln) advance for the 3rd consecutive month - Automotive exports rise for the 19th consecutive month 8 out of 9 major destinations see exports rise - Aside from CIS, exports to all major destinations increased Energy imports (gas, coal) decline and reduce overall imports - 3 major energy sources (crude oil, gas, coal) imports drop 16.3% YoY Trade balance achieves surplus for 8 months straight