In a remarkable display of economic resilience, South Korea's exports surged 7.5% year-on-year in September, totaling a record $58.77 billion. This outstanding performance marks the 12th consecutive month of growth, reflecting the nation’s strong position in global trade.
Leading the charge were the semiconductor and automobile sectors, which achieved all-time highs. Semiconductor exports soared to $13.6 billion, representing a significant 37.1% increase, while automobile exports reached $5.5 billion, up 4.9% from the previous year. These sectors are not only vital to South Korea's economy but also highlight the country’s ability to meet global demand for high-quality products.
Overall, six out of the 15 major export categories showed impressive gains, including wireless communication devices and bio-health products. Notably, computer exports experienced a staggering 132% growth, reaching $1.5 billion, continuing a nine-month streak of increases. This robust growth across various industries showcases the diversity and competitiveness of South Korean exports.
Regionally, exports to China reached an impressive $11.7 billion, a 6.3% increase, contributing to a trade surplus for the first time in seven months. Exports to the United States also set a record for September at $10.4 billion, marking a 3.4% rise and solidifying South Korea's vital trading relationships. Additionally, the EU and ASEAN markets showed continued growth, underscoring the country's strong presence in international trade.
The positive trend is further evidenced by the trade balance, which recorded a surplus of $6.66 billion. The Minister of Trade, Industry, and Energy highlighted the upward trajectory of exports, emphasizing the government's commitment to enhancing trade performance through public-private partnerships.
As South Korea continues to thrive in the global marketplace, its record-breaking export figures demonstrate the nation's dynamic economy and its ability to adapt and grow amidst changing global conditions.
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