S Korea’s export grows for 12th month in September
SOUTH Korea’s export grew for the 12th straight month due to strong demand for locally-made semiconductors and automobiles, government data
showed Tuesday.
Export, which accounts for about half of the export-driven economy, gained 7.5 per cent from a year earlier to US$58.77 billion in September, continuing to increase since October last year, according to the Ministry of Trade, Industry and Energy.
Import rose 2.2 per cent over the year to $52.12 billion in September, sending the trade surplus to $6.65 billion. The trade balance stayed in black
for the 16th consecutive month since June last year. Of the country’s 15 major
export items, six products saw an expansion in outbound shipment.
Semiconductor export advanced 37.1 per cent over the year to $13.62 billion in September, keeping an upward trend for the 11th successive month.
The double-digit growth was attributed to chip demand relevant to artificial intelligence, higher memory chip prices, and the launch of new smartphones.
Mobile device shipment jumped 19.0 per cent to $1.92 billion thanks to the global smartphone market recovery, while computer export more than doubled to $1.51 billion on a continued demand for solid state drive (SSD).
Display panel export shrank 4.3 per cent to $1.73 billion last month, keeping a downward trend for the second straight month.
Automotive shipment mounted 4.9 per cent to $5.48 billion in August, rebounding in four months on the back of robust demand for hybrid electric vehicle. — Xinhua
