Korea’s exports in August this year increased by 11.4 percent compared with August last year. As a result, the so-called ‘export plus’ trend, in which exports increased compared with the same month of the previous year, continued for 11 consecutive months.
Semiconductor exports in August, the largest export product, reached $12 billion, the largest August volume ever.
On the 1st, the Ministry of Trade, Industry and Energy announced the export and import trends for August. Exports in August amounted to 57.9 billion US dollars, an increase of 11.4% over the same month last year.
Since the export growth rate turned positive in October last year, exports have continued to increase compared with the same month last year for 11 consecutive months. Semiconductor exports also increased for the 10th consecutive month. Semiconductor exports in August amounted to 11.9 billion US dollars, an increase of 38.8% over last year.
Korea’s imports in August amounted to $54.07 billion, up 6% from a year earlier. Accordingly, the trade balance in August showed a surplus of $3.83 billion. The monthly trade balance has been in surplus for 15 consecutive months since June last year.
Go Jeong-sam, Hankyung.com reporter jsk@hankyung.com
