Korea's exports up 8.2% on-year during first 20 days of November

emirates7 - The Republic of Korea's exports recorded an 8.2 percent on-year gain in the first 20 days of November, mainly on the back of strong global demand for semiconductors and automobiles, data showed Friday.

Outbound shipments reached US$38.5 billion from 1st to 20th November, compared with $35.6 billion tallied a year earlier, Yonhap News Agency reported, citing data from the Korea Customs Service.

Imports increased 3.7 percent on-year to $36.1 billion during the period, resulting in a trade surplus of $2.4 billion.

The agency attributed the increase in outbound shipments to a rise in global demand for semiconductors and automobiles despite US tariff measures.

Chip exports jumped 26.5 percent on-year to $9.75 billion, accounting for 25.3 percent of the country's total exports during the cited period.

Car exports advanced 22.9 percent to $3.81 billion, while ship exports gained 2.3 percent to $1.15 billion.

By destination, exports to China rose 10.2 percent to $8.22 billion, and exports to the United States expanded 5.7 percent to $6.78 billion. Exports to the European Union also increased 4.9 percent to $3.58 billion.

In October, exports grew 3.6 percent from a year earlier to $59.57 billion on the back of strong demand for semiconductors, marking the fifth consecutive month of increase.