April 20, 2024
Economy
Exports rise 38.5% in first 10 days of July
[THE INVESTOR] Korea’s exports shot up 38.5 percent in the first 10 days of this month from a year earlier, customs data showed on July 11.
Total outbound shipments reached US$14.3 billion from July 1-10, up from US$10.3 billion tallied over the same period last year, according to numbers compiled by the Korea Customs Service.
The sharp increase was led by a 574.4 percent on-year surge in exports of vessels and a 50.4 percent gain in chips, with numbers for passenger cars and wireless devices backtracking 0.2 percent and 23.7 percent, respectively.
By country, exports to China rose 4.9 percent over the 10-day period from a year earlier despite Beijing‘s retaliatory moves against Seoul’s plan to deploy a U.S. missile defense system on its soil. Shipments to Japan jumped 12.7 percent, and those to Vietnam vaulted 11.2 percent on-year.
But exports to the US retreated 2 percent over the cited period amid the country‘s efforts to reduce its trade surplus with the world’s largest economy.
By Alex Lee and newswires (alexlee@heraldcorp.com)
Total outbound shipments reached US$14.3 billion from July 1-10, up from US$10.3 billion tallied over the same period last year, according to numbers compiled by the Korea Customs Service.
The sharp increase was led by a 574.4 percent on-year surge in exports of vessels and a 50.4 percent gain in chips, with numbers for passenger cars and wireless devices backtracking 0.2 percent and 23.7 percent, respectively.
By country, exports to China rose 4.9 percent over the 10-day period from a year earlier despite Beijing‘s retaliatory moves against Seoul’s plan to deploy a U.S. missile defense system on its soil. Shipments to Japan jumped 12.7 percent, and those to Vietnam vaulted 11.2 percent on-year.
But exports to the US retreated 2 percent over the cited period amid the country‘s efforts to reduce its trade surplus with the world’s largest economy.
By Alex Lee and newswires (alexlee@heraldcorp.com)
