Seoul: Korea’s exports rose 5.9 percent from a year earlier in July, thanks to robust global demand for semiconductors, government data showed Friday. Outbound shipments came to US$60.8 billion last month, marking the highest figure for any July, according to data compiled by the Ministry of Trade, Industry and Energy.
According to Emirates News Agency, imports added 0.7 percent on-year to $54.2 billion, resulting in a trade surplus of $6.61 billion. Semiconductor exports jumped 31.6 percent on-year to $14.71 billion, also making an all-time high for any July. Shipments of automobiles increased 8.8 percent to $5.83 billion.
Ship exports spiked 107.6 percent on-year to $2.24 billion, marking the fifth consecutive month of on-year increase, driven by robust demand for high-value ships. On the other hand, shipments of petroleum and petrochemical products decreased 6.3 percent and 10.1 percent to $4.21 billion and $3.75 billion, respectively.