South Korea’s exports up 8.2% in 2024 to fresh record
The Peninsula
Seoul: South Korea s exports advanced 8.2 percent on year in 2024 to set a new annual record on robust shipments of semiconductors, data showed. Ou...
Seoul: South Korea’s exports advanced 8.2 percent on-year in 2024 to set a new annual record on robust shipments of semiconductors, data showed.
Outbound shipments came to $683.8bn last year, compared with the previous record of $683.6bn set in 2022, according to the data compiled by the Ministry of Trade, Industry and Energy. Imports fell 1.6 on-year to $632bn, resulting in a trade surplus of $51.8bn.
The ministry said outbound shipments of eight out of 15 major export items gained ground in 2024.
By sector, exports of semiconductors rose 43.9 percent on-year to $141.9bn, surpassing the previous record of $129.2bn set in 2022.
The strong performance of chips was driven by robust demand for premium products, including high-bandwidth memory chips, despite the overall decline in global semiconductor prices.
