Based on the search results, here’s a summary of South Korea’s recent export-import trade updates:
Key Highlights:
S
Image Source: yna.co.kr
Record-Breaking Exports:
South Korea’s annual exports for 2024 reached a new all-time high, surpassing previous records.
This growth is significantly driven by strong performance in the semiconductor sector.
Semiconductor Dominance:
Semiconductors remain a crucial export, with significant growth fueled by demand for advanced chips used in AI applications.
Trade Surplus:
South Korea achieved a substantial trade surplus in 2024, a significant improvement from the previous year.
Key Trading Partners:
China and the United States remain major trading partners, with notable growth in exports to the U.S.
Also ASEAN countries are a very important trade partner.
Sector Performance:
Other strong performing sectors include:
Shipbuilding.
Bio-health.
Cosmetics and K-food products.
Automobile exports remained strong, although there was a slight decrease.
Import trends:
Imports saw a slight decline, largely due to reduced energy imports.
In more detail:
South Korea’s Exports Grow in Sign Momentum to Carry Into
Image Source: bwbx.io
South Korea’s 2024 export figures demonstrate the nation’s robust position in the global economy. The semiconductor industry’s exceptional performance is a key factor in this growth, driven by the increasing demand for advanced technology.
The ministry of trade, Industry and Energy (MOTIE) has released information that shows the growth of south korean exports.
The data shows a strong increase in exports, and a slight decrease in imports, leading to a large trade surplus.
The information provided by OEC, gives a detailed breakdown of what products are being traded, and which countries south korea is trading with.
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