ANI
11 Jun 2025, 12:42 GMT+10
New Delhi [India], June 11 (ANI): South Korea's exports witnessed a robust recovery in the first 10 days of June, climbing 5.4 percent year-on-year, according to the data released by the Korea Customs Service on Wednesday. According to a report in the Korea Herald, this uptick marks a significant shift from May's decline and is largely attributed to strong global demand for semiconductors and automobiles.During the June 1-10 period, outbound shipments totalled USD 15.47 billion, a notable increase from USD 14.68 billion recorded a year earlier. The daily average volume of exports saw an even sharper rise, jumping 15 per cent on-year, despite fewer working days (5.5 days compared to 6 days last year).Semiconductors emerged as a key growth driver, with exports surging 22 per cent to USD 3.62 billion, accounting for a substantial 23.5 per cent of the nation's total outbound shipments. The automotive sector also contributed significantly, with shipments rising 8.4 per cent to USD 1.3 billion. Shipbuilding experienced an impressive boom, skyrocketing 23.4 per cent to USD 896 million.However, not all sectors shared in the growth, sales of petroleum products saw a decline of 20.5 per cent, falling to USD 1.11 billion.In terms of destinations, exports to China, South Korea's top trading partner, increased by 2.9 per cent to USD 3.06 billion. Shipments to the European Union spiked by 14.5 per cent to USD 1.5 billion, while exports to the United States also saw a modest rise of 3.9 per cent, reaching USD 2.95 billion.Despite the positive start to June, the country remains cautious. An official from the customs agency noted that it 'remains to be seen whether the upward trend in monthly exports will continue.' This comes after a 1.3 percent drop in May's exports, which snapped a three-month winning streak, partly due to US President Donald Trump's tariff measures impacting shipments to the United States. The strong performance in early June provides a hopeful sign for the nation's trade outlook amidst evolving global economic conditions. (ANI)
Get a daily dose of Kenya Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Kenya Star.
More InformationLondon [UK], June 11 (ANI): Over the years, Australian star batter Steve Smith has outclassed several greats of Test cricket. With...
St. John's [Antigua], June 11 (ANI): West Indies unveiled its 16-player squad that will compete for the coveted Sir Frank Worrell Trophy...
BEIJING, June 11 (Xinhua) -- Chinese President Xi Jinping and President of the Republic of the Congo Denis Sassou Nguesso sent congratulatory...
Tel Aviv [Israel], June 11 (ANI/TPS): Argentine President Javier Milei met with Israeli President Isaac Herzog in Jerusalem on Tuesday,...
(250610) -- CHANGSHA, June 10, 2025 (Xinhua) -- Chinese Foreign Minister Wang Yi, also a member of the Political Bureau of the Communist...
New Delhi [India], June 11 (ANI): Congress MP Manish Tewari has come in defence of Leader of Opposition (LoP) in Lok Sabha Rahul Gandhi...
New Delhi [India], June 11 (ANI): South Korea's exports witnessed a robust recovery in the first 10 days of June, climbing 5.4 percent...
Los Angeles [US], June 11 (ANI): California Governor Gavin Newsom condemned President Donald Trump's deployment of the military in...
Jaipur (Rajasthan) [India], June 11 (ANI): On the 11th anniversary of the Modi government, Tika Ram Jully, leader of the Opposition...
NEW YORK, June 11 (Xinhua) -- Demonstrations against the Trump administration's immigration crackdown have intensified and spread far...
New Delhi [India], June 11 (ANI): Congress leader Jairam Ramesh has asked a series of questions from Prime Minister Narendra Modi over...
Los Angeles [US], June 11 (ANI): Mexico's green, white and red flag has emerged as a defining symbol of the ongoing immigration protests...