S. Korea's Exports Jump 12.7 % To All-Time High In Three Years

(MENAFN- Gulf Times) South Korea's exports rose 12.7% from a year earlier in September on the back of strong demand for semiconductors, logging the largest outbound shipments in three years and six months, government data showed Wednesday.

Outbound shipments came to $65.95 billion last month, according to data compiled by the Ministry of Trade and Industry.

This marks the largest monthly export volume since March 2022, and the fourth straight month of on-year growth.

For the third quarter, exports increased 6.6% on-year to $185.03 billion, surpassing the $180 billion-mark and setting a new quarterly record, the data showed.

Imports decreased 8.2% on-year to $56.4 billion in September, resulting in a trade surplus of $5.64 billion.

By item, semiconductor exports soared 22% on-year to $16.6 billion to mark an all-time monthly high for the second consecutive month following August.

Auto exports increased 16.8% to $6.4 billion, marking the highest figure for any September.

Ship exports surged 21.9% on-year to $2.89 billion, marking the seventh consecutive month of increase.

Outbound shipments of machinery also expanded 10.3% on-year to $4.2 billion, marking the first on-year increase this year on the back of strong demand from emerging markets such as the Middle East.

exports rose semiconductors outbound shipments

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