Exports from January through October this year reached USD 565.8 billion. Shown are containers loaded for outbound shipping at the Port of Busan. (Official Facebook page of Busan Port Authority)
By Margareth Theresia
Robust exports from January to October this year of USD 565.8 billion led to a trade surplus of USD 39.6 billion.
The Ministry of Trade, Industry and Energy on Nov. 25 said this in a meeting on reviewing export trends and risks by key item and discussion of expanding overseas shipments.
Exports in the year's first 10 months rose 9% to USD 565.8 billion for their 13th straight month of growth.
This resulted in a trade surplus for the 17th consecutive month at USD 39.6 billion, the largest since USD 60.8 billion in 2018.
By item, nine of 15 key exports saw growth led by semiconductors, which posted a record-high USD 115 billion, up 47.2% from the same time last year for their 12th consecutive month of rise.
Coming in at No. 2 were cars with USD 59.1 billion, breaking their previous record of USD 58 billion. The item with the third-highest export growth behind computers and chips was shipbuilding, which soared 20.2% to USD 20 billion.
"Despite surging jitters on the global market, exports have stayed strong mainly led by key items," First Vice Minister of Trade, Industry and Energy Park Sungtaek said. "We will actively support export activity by companies through reducing uncertainty and boosting opportunity."
