South Korea's exports increased by 1.4% year-on-year in November, reaching $56.35 billion, marking 14 consecutive months of growth. This growth was primarily driven by strong semiconductor exports, which surged 30.8% to $12.5 billion, setting a record for the fourth straight month. However, the growth rate has been slowing since August.
Imports decreased by 2.4% to $50.7 billion, resulting in a trade surplus of $5.61 billion for the 18th consecutive month. Automotive exports fell by 13.6% to $5.6 billion due to production disruptions from strikes and adverse weather conditions affecting shipments. Meanwhile, exports of petroleum and petrochemical products dropped by 18.7% and 5.6%, respectively, due to falling oil prices.
The bio-health sector saw a 19.6% increase in exports, reaching $1.4 billion, while ship exports skyrocketed by 70.8% to $2.5 billion. Exports to China slightly decreased by 0.6%, and those to the U.S. fell by 5.1%.
