S. Korean exports rise 14.9 pc in January on robust chip demand

Seoul, Jan 21 South Korea's exports expanded 14.9 per cent from a year earlier in the first 20 days of this month, driven by strong demand for semiconductors, data showed on Wednesday.

Outbound shipments reached US$36.36 billion in the January 1-20 period, compared with $31.63 billion tallied over the same period last year, according to the data from the Korea Customs Service, reports Yonhap news agency.

Imports increased 4.2 per cent on-year to $36.98 billion during the period, resulting in a trade deficit of $600 million, the data showed.

The daily average volume of exports also advanced 14.9 per cent on-year, as the number of working days during the period remained unchanged at 14.5 days from a year earlier.

Exports of petroleum products went up 17.6 per cent to $2.46 billion, and steel exports edged up 1.2 per cent to $2.4 billion.

But automobile exports sank 10.8 percent on-year to $2.87 billion, while shipments of vessels dipped 18.1 per cent to $1.33 billion.

By destination, exports to China, South Korea's top trading partner, soared 30.2 per cent on-year to $8.45 billion.

Shipments to the United States jumped 19.3 per cent to $6.66 billion despite the tariff scheme by U.S. President Donald Trump's administration, the data showed.

In December, exports expanded 13.4 per cent 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.

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