ANN/THE KOREA HERALD – South Korea’s exports rose 16 per cent year-on-year in the first 20 days of February, buoyed by strong shipments of semiconductors and automobiles, according to data from the Korea Customs Service.

Exports during the period totalled USD35.3 billion, up from USD30.4 billion a year earlier. Imports also increased 7.7 per cent to USD34.5 billion, resulting in a trade surplus of USD800 million.

However, daily average exports fell 2.7 per cent on-year, reflecting a longer working period of 15.5 days, compared to 13 days in the same period last year.

“Exports of IT-related products, such as semiconductors and computers, as well as automobiles, are expected to remain strong throughout February,” said official from the Ministry of Trade, Industry and Energy Cho Ik-no. “We anticipate a rebound in exports and a return to a trade surplus.”

The growth follows a 16-month streak of export increases, which was briefly interrupted in January due to fewer working days caused by the extended Lunar New Year holiday. The trade surplus also ended an 18-month streak of consecutive surpluses.

By sector, semiconductor exports surged 22.1 per cent year-on-year to USD6.5 billion, reflecting a recovery in the global chip market. Automobile exports posted even stronger growth, soaring 40.3 per cent to USD3.6 billion.

In contrast, petroleum product exports declined 9.7 per cent to USD2.6 billion, reflecting weaker global demand.

Exports to China, South Korea’s largest trading partner, increased 13.6 per cent to USD6.6 billion, while shipments to the United States also grew 16 per cent to USD6.6 billion, indicating solid demand from major global markets.

With robust export momentum in February, South Korea’s trade performance is on track for a strong recovery, easing concerns over last month’s slowdown.