General

According to customs data, in the first 11 months of this year, the cumulative export volume of 15 major exports, such as semiconductors, ships and automobiles, was 490.6 billion US dollars, up 7.6% year on year. However, the growth rate is narrower than that of last year, and it is unlikely that the annual export volume will exceed 700 billion dollars this year.

In terms of various items, the exports of the 15 major products increased year on year last year, while this year only the exports of the 10 major products increased, while the exports of the other 5 major products decreased. The cumulative export of ships decreased by 26.8% year-on-year to 15.8 billion US dollars; The export volume of wireless communication decreased by 8% year-on-year to US $16 billion; Textile exports increased by 14.2% last year, while customs data showed that this year they decreased by 2.5% to US $11.3 billion; The export of household appliances and computers increased by more than 20% last year, and decreased by 5.4% and 1.5% respectively this year to US $7.5 billion and US $14.9 billion, respectively.

According to customs data, although the export of the top 10 items increased, the growth rate narrowed. The export volume of semiconductor reached 120.2 billion US dollars, up 4.3% year on year, far lower than 28.4% last year; Automobile export increased by 15.3% to 48.7 billion US dollars, with the growth rate declining by about 10 percentage points compared with last year; The export volume of petrochemical industry only increased by 0.7%. According to the customs data, it decreased by about 50 percentage points compared with last year; The export volume of petroleum products and steel increased by 70.0% and 8.7% respectively, with a decrease of 14.5 and 27.1 percentage points respectively; The export of monitors grew by more than 20% last year, and only 2.8% this year.

According to customs data, the total export of South Korea last year reached a record high of 644.5 billion US dollars. The industry had expected that the total export of this year would exceed 700 billion US dollars. However, due to the global economic downturn, the main export forces such as semiconductors have not performed well since the second half of the year. It is estimated that the annual export volume of this year may be less than 700 billion dollars.