Seoul: SiltaNews – News Desk
Exports of the Republic of Korea declined by 2.3% year-on-year during the first 10 days of January, despite robust overseas shipments of semiconductors, official data showed on Monday. Outbound shipments amounted to US$15.55 billion in the period from 1st to 10th January, compared with US$15.92 billion recorded a year earlier, according to figures released by the Korea Customs Service.
Average daily exports, however, rose by 4.7% year-on-year to US$2.22 billion, supported by a lower number of working days, which stood at seven days, compared with 7.5 days in the same period last year. According to Yonhap News Agency, imports decreased by 4.5% year-on-year to US$18.21 billion, resulting in a trade deficit of US$2.7 billion during the period.
Chip shipments spiked 45.6% from a year earlier to $4.64 billion. The amount accounts for 29.9% of the country’s total exports during the 10-day period, up 9.8 percentage points from a year earlier. Automobile exports tumbled 24.7% on-year to $1.01 billion, while shipments of vessels shed 12.7% to $923 million. Exports of steel products also plunged 18.7 percent on-year to $976 million.
In December, exports expanded 13.4% from a year earlier to $69.6 billion on strong demand for semiconductors, marking the 11th consecutive month of an on-year increase. For 2025, outbound shipments reached an all-time high of $709.7 billion, surpassing the $700 billion mark for the first time.