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In December 2020, South Korea’s exports reached US $51.41 billion, a year-on-year increase of 12.6% From Ministry of industry, commerce and resources

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The following is the In December 2020, South Korea’s exports reached US $51.41 billion, a year-on-year increase of 12.6% From Ministry of industry, commerce and resources recommended by recordtrend.com. And this article belongs to the classification: global economy .

South Korea’s exports rose 12.6% year-on-year in December to US $51.41 billion, the largest increase since October 2018, accelerated significantly from the 4.1% growth in November, benefiting from strong chip demand and improved global demand, according to data released by South Korea’s Ministry of industry, trade and resources on the 1st.

Chip exports surged by 30% in December, the largest increase since August 2018, driving the overall export recovery.

An official from the Ministry of industry, trade and resources of South Korea said: “semiconductor exports are extremely strong, with 11 of the 15 major export projects growing Sales of IT products drive overall growth. “

Among other major products, exports of mobile devices, monitors and computers increased by 39.8%, 28% and 14.7% respectively.

By destination, exports to China increased by 3.3%, to the United States by 11.6% and to the European Union by 26.4%.

In December, imports increased by 1.8% year-on-year to US $44.46 billion. The trade balance recorded a surplus of US $6.94 billion, maintaining a surplus for eight consecutive months.

Affected by the new epidemic, South Korea’s exports fell for six consecutive months from March to August, with an increase of 7.3% in September, a decrease of 3.8% in October, an increase of 4.1% in November, and a growth again in December.

In 2020, the annual export volume will reach 512.85 billion US dollars, 5.4% lower than that in 2019. Imports were 467.23 billion US dollars, down 7.2%. Trade surplus of US $45.2 billion was recorded for consecutive years.

More reading: South Korea’s Ministry of industry, commerce and resources: in March 2018, South Korea’s exports increased by 6.1% year-on-year for 17 consecutive months. South Korea’s Ministry of industry, commerce and resources: in March 2020, South Korea’s exports decreased by 0.2% year-on-year. South Korea’s Ministry of industry, commerce and resources: in August 2020, South Korea’s exports decreased by 9.9% year-on-year. South Korea’s Ministry of industry, commerce and resources: in April 2017, South Korea’s exports soared by 24.2% Export to China increased by 10% South Korea’s Ministry of industry, trade and resources: in October 2019, South Korea’s export decreased by 15% year on year. South Korea’s Ministry of industry, trade and resources: in May 2018, South Korea’s export reached US $50.98 billion, increased by 13.5% year on year. South Korea’s Ministry of industry, trade and resources: at the end of 2017, South Korea’s export was US $573.7 billion, ranking sixth in the world. South Korea’s Ministry of industry, trade and resources: in November 2019, South Korea’s export was US $44.1 billion South Korea customs office: South Korea’s exports in the first 20 days of May, 2019 decreased by 11.7% year on year. South Korea customs office: South Korea’s exports in the first 20 days of April, 2019 decreased by 8.7% year on year. Korea Trade Association: South Korea’s exports in the first 8 months of May, 2019 decreased by $361.4 billion 2.9% of global exports South Korean government: 23.7% sharp drop in South Korean exports in May 2020 South Korean customs office: 23.6% year-on-year drop in exports to China in the first 10 days of August 2020 South Korean customs office: 5.8% year-on-year drop in exports in the first 20 days of October 2020 South Korean customs office: 7% year-on-year drop in exports in the first 20 days of August 2020

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